Which of the Following Statements Is True for a Given

question 52

Multiple Choice

Which of the following statements is true for a given level of output?

• A) Long-run average cost will always be greater than or equal to short-run average cost.
• B) Long-run average cost and short-run average cost will be equal because the firm will use different input combinations in each period.
• C) Long-run average cost will usually be greater than short-run average cost because more output is produced over the long run.
• D) Long-run average cost will always be less than or equal to short-run average cost.

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Definitions:

Rationality

The quality of being based on or in accordance with reason or logic.

Influence Tactics

Strategies or actions used to persuade or direct the behavior of others in order to achieve one's own objectives.

Job Search

The action of looking for employment opportunities.

Influence Tactic

describes methods or strategies used by individuals or leaders to persuade or convince others to follow a particular course of action.