A Short-Run Average Cost Curve Is Tangent to the Long-Run

question 28

Multiple Choice

A short-run average cost curve is tangent to the long-run average cost curve at the quantity where:

• A) the fixed plant size would have been optimal.
• B) short-run marginal cost is minimized.
• C) short-run marginal cost is equal to average cost.
• D) short-run average cost is minimized.
• E) long-run average cost is minimized.

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