The Long-Run Average Total Cost Curve Is Always

question 54

Multiple Choice

The long-run average total cost curve is always

• A)flatter than the short-run average total cost curve, but not necessarily horizontal.
• B)horizontal.
• C)falling as output increases.
• D)rising as output increases.

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Definitions:

Payables

Amounts that a company owes to its creditors or suppliers for goods or services received.

Borrowings

Funds that a company or individual takes on loan from another party, to be repaid over time with interest.

Denominated

To specify the currency in which a financial transaction or instrument is expressed or required to be settled.

Exchange Rate

The price of one country's currency expressed in the currency of another country.