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Author Question: Which of the following best describes a firm's long-run average cost curve? The LRAC curve (Read 41 times)

dusk108

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on: Oct 12, 2022
Which of the following best describes a firm's long-run average cost curve? The LRAC curve
◦ shows the relationship between marginal cost and output given that the economically most efficient method of production is employed.
◦ shows the minimum cost of producing each possible level of output with a fixed factor.
◦ is the boundary between attainable and unattainable cost levels, with known production technologies and given factor prices.
◦ is an envelope of short-run average variable cost curves.
◦ is horizontal in most situations.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by dusk108 on Oct 12, 2022

latoyia.cook

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dusk108

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

epscape

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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