Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn

Exercise 1

The unlabeled red curves in this figure illustrate the:
a. long-run average-total-cost curves of various firms constituting the industry.
b. short-run average-total-cost curves of various firms constituting the industry.
c. short-run average-total-cost curves of various plant sizes available to a particular firm.
d. short-run marginal-cost curves of various plant sizes available to a particular firm.