The Minimum Possible Short-Run Average Costs Are Equal to Long-Run

question 381

Multiple Choice

The minimum possible short-run average costs are equal to long-run average costs when

• A) the plant is producing at its short-run minimum point.
• B) short-run and long-run costs are declining.
• C) the long-run curve is at a minimum point.
• D) production is at any point on the LAC curve.

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