The Long- Run Average Cost (LRAC)curve Shows

question 124

Multiple Choice

The long- run average cost (LRAC) curve shows

• A)what happens to the fixed costs in the long run.
• B)the same as the short- run average cost curve.
• C)the lowest unit cost at which the firm can produce a given output.
• D)the operation of the law of diminishing returns.
• E)the highest unit costs of producing a given output.

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