The Table Given Below Shows the Average Total Cost of Production

question 40

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output.Table 8.5

-The long-run average total cost curve represents:

• A)the maximum cost of producing any level of output when all the factors are fixed.
• B)the lowest cost of producing any level of output when all the factors are variable.
• C)the maximum cost of producing any level of output when all the factors are variable.
• D)the lowest cost of producing any level of output when all the factors are fixed.
• E)the lowest cost of producing any level of output when at least one factor is fixed.

---

Definitions:

Commitment

The dedication or strong loyalty that an individual or group has toward an organization, cause, or goal.

Formula Box

A field in spreadsheet applications where you enter or edit calculations or functions to be applied to cell data.

Insertion Point

The cursor's location in a document or field where new text or data will be entered.

Vertical Line

A straight line that runs up and down, perpendicular to a horizontal line.