Which of the following statements with respect to the figure below is INCORRECT?
A) All the possible short-run average cost curves that correspond to the different plant sizes are shown as - .
B) If the anticipated permanent rate of output per unit time period is in panel (a), the optimal plant would correspond to .
C) If the permanent rate of output increases to in panel (a), it will be more profitable to have a plant size corresponding to .
D) The long-run average cost curve LAC in panel (b) is sometimes called the planning curve representing the locus (path) of points.

Question

Which of the following statements with respect to the figure below is INCORRECT? 
A) All the possible short-run average cost curves that correspond to the different plant sizes are shown as - . 
B) If the anticipated permanent rate of output per unit time period is in panel (a), the optimal plant would correspond to . 
C) If the permanent rate of output increases to in panel (a), it will be more profitable to have a plant size corresponding to . 
D) The long-run average cost curve LAC in panel (b) is sometimes called the planning curve representing the locus (path) of points.

Quizplus · Accepted Answer

The Answer of Which of the following statements with respect to the figure below is INCORRECT? 
A) All the possible short-run average cost curves that correspond to the different plant sizes are shown as - . 
B) If the anticipated permanent rate of output per unit time period is in panel (a), the optimal plant would correspond to . 
C) If the permanent rate of output increases to in panel (a), it will be more profitable to have a plant size corresponding to . 
D) The long-run average cost curve LAC in panel (b) is sometimes called the planning curve representing the locus (path) of points.

Which of the Following Statements with Respect to the Figure