Figure 72 Shows Four Short-Run Average Cost Curves for Many Possible

question 113

Multiple Choice

Figure 7.2 shows four short-run average cost curves for many possible plant sizes. If the firm represented in the figure below wants to produce output level q, then, in the long run, it should build a plant size with average total cost curve of _____. ​
Figure 7.2
​

• A)1
• B)2​
• C)3​
• D)4
• E)either 1 or 3

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Definitions:

Sharing Sense

The practice of creating mutual understanding or common perspectives among individuals or groups.

Manager

Someone who has been appointed to coordinate and facilitate, to keep things organized and accomplish a task.

Work Agenda

outlines the tasks, activities, and goals planned for a work session or period.

Motivates

The action or process of giving someone a reason for doing something or encouraging someone to act in a certain way.