What Is the Long-Run Average Cost Curve

question 27

Multiple Choice

What is the long-run average cost curve?

• A)A graphical representation of the total variable cost.
• B)A measurement of the percentage of an industry's total sales which is controlled by the four largest firms.
• C)A graphical representation of those costs that do not vary with the level of output.
• D)A graphical representation of the average costs of production in the long run.
• E)A portion of the short-run average total cost curve.

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