The Long-Run Average Cost Curve Is the Relationship Between the Lowest

question 58

Multiple Choice

The long-run average cost curve is the relationship between the lowest attainable average total cost and output, when plant size is ________ and labour is ________. The long-run average cost curve is made up of the segments of individual average ________ cost curves with the lowest average ________ cost for a given output.

• A)varied; varied; variable; variable
• B)varied; varied; total; total
• C)varied; held constant; variable; variable
• D)held constant; varied; total; total
• E)held constant; varied; variable; variable

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