If a Firm Is Producing the Level of Output at Which

question 60

Multiple Choice

If a firm is producing the level of output at which long-run average cost equals long-run marginal cost, then

• A) long-run marginal cost is at its minimum point.
• B) long-run average cost is at its minimum point.
• C) long-run total cost is at its minimum point.
• D) both a and b
• E) all of the above

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