Multiple Choice
A firm's long- run average cost curve
A) tells the firm which plant size to use and which quantity of labour to use to minimise the cost of producing any level of output.
B) is U- shaped.
C) shows the lowest attainable average total cost of producing any level of output when the plant and labour are variable.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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