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Godty Godty
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A year ago
A short-run average total cost curve and a long-run average cost curve are tangent

▸ where the short-run cost curve is downward sloping and the plant size is optimal.

▸ by coincidence.

▸ when the plant size is at the optimal level for that level of output.

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

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

Microeconomics


Edition: 17th
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pipi123pipi123
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A year ago
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