The Long-Run Average Cost Curve Shows _____

question 44

Multiple Choice

The long-run average cost curve shows _____.

• A) the additional cost of producing an extra unit of output
• B) the summation of the short-run average total cost curves
• C) that the law of diminishing returns operates in the long run
• D) the returns to scale at different levels of output

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Definitions:

Legal Power

The authority granted by law to individuals or entities to carry out legal actions.

Grumbling Acceptance

An acceptance of a situation or outcome with complaints or signs of unhappiness.

Objectively Demonstrated

Information or evidence presented in a manner that is observable and verifiable by others, not influenced by personal feelings or opinions.

Unclear

Not easy to see, understand, or distinguish; not obvious or definite.