Which of the following is also known as the firm's planning curve?
A)the average total cost curve
B)the total cost curve
C)the long-run average cost curve
D)the long-run marginal cost curve
E)the fixed cost curve

Question

Quizplus · Accepted Answer

The long-run average cost curve is also known as the firm's planning curve because it shows the lowest average cost at which the firm can produce any given level of output in the long run.

Which of the Following Is Also Known as the Firm's