If a Firm Is Producing the Level of Output at Which

Multiple Choice

If a firm is producing the level of output at which long-run average cost equals long-run marginal cost,then

A) long-run marginal cost is at its minimum point.
B) long-run average cost is at its minimum point.
C) long-run total cost is at its minimum point.
D) both a and b
E) all of the above