The Long-Run Average Total Cost Curve Is Often Bumpy Because

question 184

Multiple Choice

The long-run average total cost curve is often bumpy because

• A)capital can be varied only in tiny increments.
• B)capital can often be varied only in large increments.
• C)short-run average variable cost curves are bumpy.
• D)short-run average total cost curves are bumpy
• E)capital cannot be increased with labor at the same time.

---

Definitions:

Legislators and Government Officials

Elected or appointed individuals who are responsible for making and enforcing laws, and managing public policy and services.

Interest Groups

Organizations that attempt to influence public policy and government decisions in favor of their specific interests or causes.

Tax Reform Organizations

Groups that advocate for changes in tax policy and legislation to promote fairness, efficiency, and economic growth.

Labor Unions

Organized associations of workers formed to protect and advance their members' interests in terms of wages, benefits, and working conditions.