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A Firm's Long-Run Average Cost Curve Shows the ________ Average

Question 4

Multiple Choice

A firm's long-run average cost curve shows the ________ average cost at which it is possible to produce each output when the firm has had ________ time to change both its labour force and its plant.


A) lowest; sufficient
B) lowest; insufficient
C) highest; sufficient
D) average; sufficient
E) highest; insufficient

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