Long-Run Total Cost

question 30

Multiple Choice

Long-run total cost

• A)represents the lowest possible cost of producing a given level of output.
• B)is always equal to or greater than short-run total cost.
• C)is tangent to short-run total cost when short-run total cost is at its minimum point.
• D)both a and b
• E)all of the above

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Definitions:

Tetons

A mountain range in the Rocky Mountains in North America, known for its scenic beauty and outdoor recreation opportunities.

Disintegrating

The process of breaking down or decaying, often used metaphorically to describe the breakdown of social structures or relationships.

Less Respectful

Showing a decreased level of regard or reverence towards someone or something.

Less Responsible

Characterized by a lack of responsibility, accountability, or duty in one's actions or decisions.