A Long-Run Total Cost Curve

question 42

Multiple Choice

A long-run total cost curve:

• A)must be equal to zero when the level of output is zero.
• B)may be greater than or equal to zero when the level of output is zero.
• C)must be decreasing when the level of output is zero.
• D)will be equal to fixed cost, which is greater than zero, when the level of output is zero.

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Definitions:

Intended Meaning

The meaning or interpretation that a communicator aims to convey to the listener or reader.

Feedback

Communicates how one feels about something another person has done or said.

Communicates

The process of transmitting information, ideas, emotions, skills, or knowledge from one entity to another through various means.

Returning

The act of going back to a previous position, condition, or activity.