The LRAC is most closely related to which of the following?
A)long- term business plans
B)long- term marketing plans
C)the cost of promoting a greater quantity of units
D)the cost of producing a greater quantity of units
E)the legal responsibility of a company

Question

Quizplus · Accepted Answer

LRAC stands for Long Run Average Cost, which refers to the average cost of producing a certain quantity of units in the long run, when all factors of production can be adjusted. Therefore, LRAC is most closely related to the cost of producing a greater quantity of units, as this would impact the average cost per unit in the long run.

The LRAC Is Most Closely Related to Which of the Following