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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Definitions:

Interpersonal Communication Network

The system or pattern of exchanges of information and relationships between individuals within a group or organization.

Professional Association

An organization seeking to further a particular profession, the interests of individuals engaged in that profession, and the public interest.

Vertical Network

A type of communication network in organizations where information flows between different levels of the hierarchy, such as from managers to employees and vice versa.

Supervisor

A person who oversees the work of others, ensuring tasks are completed effectively and efficiently.