The Long- Run Average Cost Curve Is an Envelope Curve

question 26

Multiple Choice

The long- run average cost curve is an envelope curve, with each point associated with a short- run average cost curve

• A) lying below it.
• B) intersecting that point.
• C) tangent at that point.
• D) at its minimum point.
• E) crossing that point from above.

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Definitions:

Actuator

An output device normally connected to an output module. Examples are an air valve and cylinder.

Electrical Signal

A form of signal that uses electrical currents or voltages to relay information across circuits or systems.

Mechanical Movement

The motion or action of mechanical parts or systems, often driven by motors or manual force.

Output Latch (OTL) Instruction

A command in PLC programming used to maintain an output in an energized state until it is specifically turned off by an output unlatch instruction.