The Long-Run Average Total Cost Curve Is Often Bumpy Because

question 184

Multiple Choice

The long-run average total cost curve is often bumpy because

• A)capital can be varied only in tiny increments.
• B)capital can often be varied only in large increments.
• C)short-run average variable cost curves are bumpy.
• D)short-run average total cost curves are bumpy
• E)capital cannot be increased with labor at the same time.

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Definitions:

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Very small or insufficient amounts of food provided, especially under conditions of scarcity or during periods of rationing.

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The conflict between Great Britain and its Thirteen Colonies in North America from 1775 to 1783, resulting in American independence.

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