Every Point on the Long-Run Average Cost Curve Is

question 171

Multiple Choice

Every point on the long-run average cost curve is

• A) also a minimum point on a short-run average cost curve.
• B) on a short-run average total cost curve.
• C) on a short-run average variable cost curve.
• D) on a short-run marginal cost curve.

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Definitions:

Paraphrasing

The act of rewording or summarizing a text or speech using different words, often to clarify meaning or convey the same information in a new way.

Ableism

Discrimination and social prejudice against people with disabilities, based on the belief that typical abilities are superior.

Fatalism

The belief that all events are predetermined and therefore inevitable, often leading to a sense of powerlessness.

First Nation

A term used in Canada to refer to indigenous peoples, specifically those that are not Inuit or Métis.