The Long-Run Average Total Cost Curve

Multiple Choice

The long-run average total cost curve

A) is an envelope-shaped curve mapped out by the short-run average total cost curves for alternative plant sizes.
B) intersects the minimum point of each short-run average total cost curve for alternative plant sizes.
C) rises throughout its entire range when increasing returns are present.
D) falls throughout its entire range due to the law of diminishing returns.