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freckles freckles
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2 years ago
A short-run average total cost curve will touch the long-run average cost curve at a level of output only

▸ when the quantity of the fixed factor being employed is at the optimal level for that level of output.

▸ where the short-run cost curve is upward sloping.

▸ where the short-run cost curve is downward sloping.

▸ by coincidence.

▸ where the short-run cost curve is downward-sloping and the quantity of the fixed factor is optimal.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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stanka82stanka82
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2 years ago
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freckles Author
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Thanks for your help!!
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Brilliant
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