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

steeper

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above

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flatter

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coincident with

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Solution

The correct option is C flatter
The long-run average total cost curve is flatter compared to the corresponding curve in the short-run. This is because of greater flexibility that the firm enjoys in the long-run.

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The positively sloped (i.e. rising) part of the long run average total cost curve is due to which of the following?

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