The Table Shows Three Short-Run Cost Schedules for Three Plants

question 293

Multiple Choice

The table shows three short-run cost schedules for three plants of different sizes that a firm might build in the long run. What is the long-run average cost of producing 30 units of output?

• A)$7
• B)$8
• C)$9
• D)$10

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Definitions:

Partnership Assets

Assets or property owned by a partnership entity, which are used for conducting its business activities.

Limited Liability

A legal principle that protects shareholders from being personally responsible for more than their investment in a corporation.

LLC

A Limited Liability Company (LLC) is a business structure in the United States that protects its owners from personal responsibility for its debts or liabilities.

Dissolution

The process of legally dissolving a corporation or partnership, ending its existence.