Exhibit 9.1 -Refer to Exhibit 9.1,which Shows the Long-Run Average Cost of Long-Run

Multiple Choice

Exhibit 9.1

-Refer to Exhibit 9.1,which shows the long-run average cost of a firm.The downward-sloping long-run average cost curve indicates that this firm can supply market demand _____

A) at a lower average cost per unit than two or more firms each producing a smaller amount of output.
B) at a lower average cost per unit than two or more firms each producing a larger amount of output.
C) at a higher average cost per unit than two or more firms each producing a larger amount of output.
D) at a higher average cost per unit than two or more firms each producing a smaller amount of output.
E) at the same average cost per unit as two or more firms each producing a larger amount of output.