[Answered] The long-run average cost curve is tangent to the minimum point of every short-run average total ...

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Author Question: The long-run average cost curve is tangent to the minimum point of every short-run average total ... (Read 237 times)

natalie2426

Hero Member
Posts: 524

on: Jun 30, 2018

The long-run average cost curve is tangent to the minimum point of every short-run average total cost curve.
a. True
b. False

Question 2

The shape of short-run variable cost curve is determined by
a. the firm's effort to minimize cost
b. the firm's effort to maximize profit
c. competition in the industry
d. the marginal productivity of the variable inputs the firm uses
e. the money the firm spends

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JaynaD87

Sr. Member
Posts: 368

Reply #1 on: Jun 30, 2018

Answer to Question 1

B

Answer to Question 2

D

natalie2426

Hero Member
Posts: 524

Reply #2 on: Jun 30, 2018

Thank you

JaynaD87

Sr. Member
Posts: 368

Reply #3 on: Jun 30, 2018

Happy to help you

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Author Question: The long-run average cost curve is tangent to the minimum point of every short-run average total ... (Read 237 times)

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