A Firm's Long-Run Average Cost Curve Is Comprised Of

Multiple Choice

A firm's long-run average cost curve is comprised of:

A) the minimum points of each of the firm's short-run average cost curves.
B) the lower envelope of the firm's short-run average cost curves.
C) the minimum points of each of the firm's short-run marginal cost curves.
D) the series of points where the short-run marginal cost curves intersect the short-run average cost curves.