The Long-Run Average Cost Curve Is the

question 259

Multiple Choice

The long-run average cost curve is the

• A) change in total product divided by the change in capital when the quantity of labor is constant.
• B) change in output resulting from a one-unit increase in the quantity of capital.
• C) relationship between the lowest attainable average total cost and output when both the plant size and labor are varied.
• D) relationship between the lowest attainable average total cost and output when both the plant size and labor are fixed.