Figure 7.2.1
-Refer to Figure 7.2.1 above. The diagram above contains ________ cost curves.
A) short-run
B) intermediate run
C) long-run
D) both short-run and long-run

Question

Figure 7.2.1
-Refer to Figure 7.2.1 above. The diagram above contains ________ cost curves.
A) short-run 
B) intermediate run 
C) long-run 
D) both short-run and long-run

Quizplus · Accepted Answer

The diagram only shows the short-run average variable cost, average total cost, and marginal cost curves. There are no long-run curves shown, such as the long-run average total cost curve. Therefore, the correct answer is (A) short-run.

Figure 7.2.1 -Refer to Figure 7.2.1 Above. the Diagram Above Contains ________