The long-run average cost curve is the relationship between the highest attainable average total cost and output when both the plant size and labor are varied.

Name: The long-run average cost curve is the relationship between the highest attainable average total cost and output when both the plant size and labor are varied.
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The long-run average cost curve represents the lowest attainable average total cost when all inputs, including plant size and labor, are varied.

The Long-Run Average Cost Curve Is the Relationship Between the Highest