-Refer to Figure 7

question 81

Multiple Choice

-Refer to Figure 7.7 to answer this question.All of the following statements except one are correct.Which is the exception?

• A)AC₁,AC₂,and AC₃ are short-run average cost curves.
• B)The long-run average cost curve illustrates both economies of and constant returns to scale.
• C)Constant returns to scale exist between outputs Q₄ and Q₅.
• D)Plant 3 achieves minimum efficient scale.
• E)Both the short run and the long run are illustrated in this graph.