For a Typical Firm, the Long-Run Average Total Cost Curve

question 29

Multiple Choice

For a typical firm, the long-run average total cost curve:

• A) is lower than the short-run average total cost curves.
• B) is tangent to each possible short-run average total cost curve at one point.
• C) intersects each possible short-run average total cost curve at two points.
• D) passes through the minimum points of all possible short-run average variable cost curves.

---

Definitions:

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people.

Southern Africa

A region in the southern part of the African continent, often including countries like South Africa, Namibia, Botswana, Zimbabwe, and Lesotho.

Asia-Pacific Economic Cooperation

A forum for 21 Pacific Rim countries that promotes free trade throughout the Asia-Pacific region.

Regional Links

Connections or relationships between entities, businesses, or governments within a specific geographical area for mutual benefit.