A cost curve drawn with years on the horizontal axis and costs per unit on the vertical axis would be a(n)
A)analytical cost curve.
B)long-run cost curve.
C)historical cost curve.
D)theoretical cost curve.

Question

Quizplus · Accepted Answer

A cost curve drawn with years on the horizontal axis and costs per unit on the vertical axis would represent the historical cost curve, which shows the actual costs incurred over time. It does not involve any analytical or theoretical aspects, and long-run cost curves typically show the relationship between average and marginal costs and output levels, not costs over time.

A Cost Curve Drawn with Years on the Horizontal Axis