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:

International Business

Commercial transactions, including sales, investments, and logistics, that occur across international borders.

Regulations

Rules or directives made and maintained by an authority to regulate behavior, usually in a specific activity or industry.

Laws

Systematized rules created and enforced through social or governmental institutions to regulate behavior.

Wealthy

Having a substantial amount of money, assets, or resources; rich.