The Long-Run Average Cost Curve Is Tangent to the Short-Run

question 59

Multiple Choice

The long-run average cost curve is tangent to the short-run average total cost curve at the minimum point of the short-run average total cost curve when the:

• A) long-run average cost curve is downward-sloping.
• B) long-run average cost curve is upward-sloping.
• C) firm is experiencing constant returns to scale.
• D) firm is experiencing economies of scale.

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