For a typical firm, the long-run average total cost curve:
a. is tangent to the minimum point of each possible short-run average total cost curves.
b. is tangent to each possible short-run average total cost curve at one point.
c. intersects each possible short-run average total cost curve at two points.
d. passes through the minimum points of all possible short-run average total cost curves.
b
Economics
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The federal funds rate is never targeted by the Fed.
a. true b. false
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Suppose a monopolist has TC = 40 + 10Q + Q2, and the demand curve it faces is p = 130 - 2Q. What is the maximum profit achieved by this monopoly?
A) Profit = 1160 B) Profit = 1240 C) Profit = 1450 D) Profit = 1800
Economics