Figure 7-10
In Figure 7-10, the curve B is
a.
average fixed cost.
b.
average total cost.
c.
average variable cost.
d.
marginal cost.
c
Economics
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The long-run aggregate supply curve is:
A. a horizontal line. B. an upward-sloping line. C. a vertical line. D. a downward-sloping line.
Economics
Why must long-run equilibrium in monopolistic competition occur at the point at which the demand curve is tangent to the average total cost curve?
What will be an ideal response?
Economics