The Long-Run Average-Total- Cost Curve Represents

question 35

Multiple Choice

The long-run average-total- cost curve represents:

• A)the maximum cost of producing any level of output when all the factors are fixed.
• B)the lowest cost of producing any level of output when all the factors are variable.
• C)the maximum cost of producing any level of output when all the factors are variable.
• D)the lowest cost of producing any level of output when all the factors are fixed.
• E)he lowest cost of producing any level of output when at least one factor fixed.

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Definitions:

Differentiate

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