A Long-Run ATC Curve Shows

question 55

Multiple Choice

A long-run ATC curve shows:

• A)the minimum average total cost possible for firms of all different sizes across an industry.
• B)which size of firm can capture the lowest costs per unit for an industry.
• C)which firms can capture economies of scale by expanding.
• D)All of these are correct.

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Definitions:

Increase Decimal

A function in spreadsheet software that allows the user to display more decimals for numerical entries, providing greater precision.

Background Color

The color filling the back area of a document, webpage, or application interface, behind all text, images, or objects.

Conditional Formatting

A feature in data visualization and spreadsheet software that changes the appearance of cells based on certain conditions, making it easier to visually assess data.

Date Formats

Conventions for representing dates in writing, which vary widely around the world, typically including day, month, and year in various orders.