Examlex
Which of the following does NOT represent a possible shape of the long-run average cost curve?
Opportunity Cost
Skipping over the possibility of gain from multiple options by deciding on a single one.
Opportunity Cost
The cost of choosing one option over alternative uses of resources or opportunities.
Inflation
A sustained increase in the general price level of goods and services in an economy over a period of time, leading to a decrease in the purchasing power of currency.
Government Policies
Government policies are the actions and strategies that governments implement to achieve specific objectives, including economic stability, growth, and social welfare.
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