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rubycod879Lv1
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.
Joshua StredderLv10
1 Nov 2020
