Refer to Figure 8.6,which shows a firm's short-run average cost curves for three different levels of capital.Which of the following statements about short-run and long-run marginal cost is true?
A) Long-run marginal cost equals short-run marginal cost at 50 units of output.
B) Long-run marginal cost equals short-run marginal cost at 130 units of output.
C) Long-run marginal cost equals short-run marginal cost at 160 units of output.
D) Long-run marginal cost and short-run marginal cost are never equal.

Question

Refer to Figure 8.6,which shows a firm's short-run average cost curves for three different levels of capital.Which of the following statements about short-run and long-run marginal cost is true? 
A) Long-run marginal cost equals short-run marginal cost at 50 units of output. 
B) Long-run marginal cost equals short-run marginal cost at 130 units of output. 
C) Long-run marginal cost equals short-run marginal cost at 160 units of output. 
D) Long-run marginal cost and short-run marginal cost are never equal.

Quizplus · Accepted Answer

The Answer of Refer to Figure 8.6,which shows a firm's short-run average cost curves for three different levels of capital.Which of the following statements about short-run and long-run marginal cost is true? 
A) Long-run marginal cost equals short-run marginal cost at 50 units of output. 
B) Long-run marginal cost equals short-run marginal cost at 130 units of output. 
C) Long-run marginal cost equals short-run marginal cost at 160 units of output. 
D) Long-run marginal cost and short-run marginal cost are never equal.