Which of the Following Is Correct

question 70

Multiple Choice

Which of the following is correct?

• A) A firm's short-run average cost curve is derived from a series of long-run average cost curves.
• B) A firm's long-run average cost curve is derived from a series of short-run average cost curves.
• C) A firm's long-run total cost is the difference between its long-run fixed cost and long-run variable cost.
• D) Both answers A and C are correct.

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Definitions:

Growth Needs

Are desires for continued personal growth and development.

Business Growth

The process of improving some measure of an enterprise's success, which can be achieved through increased revenue, profits, market share, or expansion.

Punitive Damages

Monetary compensation awarded to an injured party that exceeds simple compensation and is intended to punish the defendant.

Consequential Damages

Refer to indirect damages resulting from a breach of contract, not caused directly by the breach but instead by the subsequent consequences of that breach.