Top Posters
Since Sunday
e
5
e
4
4
d
4
o
3
p
3
t
3
3
m
3
p
3
m
3
f
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
bundlecrap bundlecrap
wrote...
Go to Answer
Posts: 121
Rep: 0 0
A year ago
Consider the long-run average cost curve for a firm. Any point representing a cost and output combination that is below the LRAC curve

▸ is attainable if the firm minimizes its costs according to the "principle of substitution."

▸ represents unattainable cost levels, given current technologies.

▸ represents less efficient cost levels than points on the long-run average cost curve.

▸ is attainable only when all factors are variable.

▸ may represent actual cost and production levels in the short run.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 22 times
1 Reply
Replies
Answer verified by a subject expert
xxxmedicalxxxmedical
wrote...
#1
Posts: 154
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

bundlecrap Author
wrote...

A year ago
this is exactly what I needed
paulinaibarra98
wrote...

Yesterday
Brilliant ツ
jcarter
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  931 People Browsing
 112 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 245
  
 1815
  
 1082