The long- run average_______ cost curve is comprised of the points on the_______ short- run average curves that are the average cost for different amounts of output.

Question

Quizplus · Accepted Answer

The long-run average total cost curve is comprised of the points on the minimum short-run average total cost curves for different amounts of output, reflecting the most efficient production level for any given quantity.

The Long- Run Average_______ Cost Curve Is Comprised of the Points