Figure 12-9
The figure below depicts average total cost functions for a firm that produces automobiles. 
-Refer to Figure 12-9.Which curve represents the long-run average total cost?
Definitions:
Output Supply
The total amount of a product or service that is available for purchase at any given price level in a given market.
Long-Run Cost Function
A concept that describes how the total production costs of a firm change based on output levels, considering all inputs as variable in the long term.
Output Supply
The total amount of a good or service that producers are willing and able to sell at a given price over a certain period of time.
Price
The financial expenditure needed to acquire a good or service.
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