What Does the Long-Run Average Cost Curve Show

question 147

Multiple Choice

What does the long-run average cost curve show?

• A)The lowest average cost of producing every level of output in the long run.
• B)Where the most profitable level of output occurs.
• C)The average cost of producing where diminishing returns are not present.
• D)The plant size or scale that the firm should build.

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Definitions:

Leaders

Individuals or groups that guide or influence others in achieving goals and inspiring positive changes in their communities or organizations.

Need for Power

A psychological drive that motivates individuals to seek control, influence, or authority over others or situations.

Employees

Individuals who are hired by an employer to perform specific duties in exchange for compensation, forming the workforce of a business or organization.

Satisfaction

The feeling of fulfillment or contentment that comes from achieving a desire, expectation, or goal.