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6 Oct 2020
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.
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.
Sonia DhawanLv10
4 Nov 2020
