Which of the Following Statements with Respect to the Figure

question 379

Multiple Choice

Which of the following statements with respect to the figure below is INCORRECT?

• A) All the possible short-run average cost curves that correspond to the different plant sizes are shown as SAC1 - SAC8.
• B) If the anticipated permanent rate of output per unit time period is Q1 in panel (a), the optimal plant would correspond to SAC1.
• C) If the permanent rate of output increases to Q2 in panel (a), it will be more profitable to have a plant size corresponding to SAC3.
• D) The long-run average cost curve LAC in panel (b) is sometimes called the planning curve representing the locus (path) of points.

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