When Comparing Short-Run Average Total Cost with Long-Run Average Total

Multiple Choice

When comparing short-run average total cost with long-run average total cost at a given level of output,

A) short-run average total cost is typically above long-run average total cost.
B) short-run average total cost is typically the same as long-run average total cost.
C) short-run average total cost is typically below long-run average total cost.
D) the relationship between short-run and long-run average total cost follows no clear pattern.