The Long-Run Average Cost Curve Is Equal to

question 67

Multiple Choice

The long-run average cost curve is equal to

• A) the minimum short-run average total cost for each output level.
• B) the minimum short-run average total cost for each given plant or factory size.
• C) the downward-sloping portion of all short-run average total cost curves.
• D) the summation of all short-run average cost curves for each output level.
• E) the difference between the highest and the lowest short-run average cost for each output level.