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insherro insherro
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7 years ago
Long-run average cost is defined as:
A) the minimum average cost of producing any level of output when all inputs are variable.
B) the minimum average cost of producing any level of output when the amount of capital is varied and all other inputs are held constant.
C) the average of the short-run costs associated with each amount of capital employed by the firm.
D) the minimum average cost of producing any level of output when all inputs are fixed.
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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University of Ottawa - Economics for Managers
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toogootoogoo
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7 years ago
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insherro Author
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This calls for a celebration Person Raising Both Hands in Celebration
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