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Shapes of LRAC and LRMC Curves

In the long-r...

Question

In the long-run, the average cost curve is .

A

U-shaped

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B

downward sloping

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C

vertical

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D

horizontal

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Solution

The correct option is A U-shaped
In the long run, the average cost curve is U- shaped.

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Q. The long-run average total cost curve is the corresponding short-run curve.

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Q. The positively sloped part of the long run average total cost curve is due to which of the following?

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