At the Long-Run Quantity of Output, Where the Long-Run Average

question 297

Multiple Choice

At the long-run quantity of output, where the long-run average total cost curve is at its lowest point, it is tangent to the _____ of the corresponding short-run average total cost curve.

• A) minimum
• B) maximum
• C) right of the minimum
• D) left of the minimum

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Definitions:

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