The long-run average total cost curve is tangent to an infinite number of short-run _____ cost curves.
A)total
B)marginal
C)average variable
D)average total

Question

Quizplus · Accepted Answer

The long-run average total cost curve is tangent to an infinite number of short-run average total cost curves because it represents the lowest possible cost at which a firm can produce any given level of output when all inputs are variable, including those that are fixed in the short run.

The Long-Run Average Total Cost Curve Is Tangent to an Infinite