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MMLU / The long-run average cost curve

Problem

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question

The long-run average cost curve

choices

  1. is always below the short-run average cost curve
  2. is always above the short-run average cost curve
  3. always intersects the short-run average cost curve at the minimum of short-run average cost
  4. is below the short-run average cost except at one point

subject

high_school_microeconomics

Discussion

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Source and history

Official source

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