The Tangency Points Between the Long-Run Average Cost Curve (LRAC)and

question 63

Multiple Choice

The tangency points between the long-run average cost curve (LRAC) and the short-run average cost curves (SRAC) are

• A) always at the minimum of the SRACs.
• B) never at the downward portion of the SRACs.
• C) always at the maximum of the SRACs.
• D) not necessarily at the minimum of the SRACs.

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