A Firm's Long-Run Average Cost Curve

question 488

Multiple Choice

A firm's long-run average cost curve

• A) shows the lowest attainable average total cost of producing any level of output when the plant and labor are fixed.
• B) is the sum of all of its short-run average cost curves.
• C) tells the firm which plant size to use and which quantity of labor to use to minimize the cost of producing any level of output.
• D) all of the above

---

Definitions:

Theodore Roosevelt

The 26th president of the United States (1901–1909), known for his exuberant personality, range of interests and achievements, and leadership of the Progressive Movement.

Dishonorably Discharged

The expulsion of someone from the military for behavior deemed to violate military honor and conduct.

Brownsville, Texas

A city located in the southern part of Texas, near the U.S.-Mexico border, known for its rich historical background and cultural diversity.

American Colonization

The historical process, particularly in the 19th century, involving the establishment of American colonies overseas or the settlement of American citizens in foreign territories.