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The long-run average cost of production is defined as

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The long-run average cost of production is defined as

The long-run average cost of production is defined as
A) the quantity produced by a firm when at least one factor is fixed.
B) total cost divided by the quantity of output the firm chooses when at least one factor is fixed.
C) the quantity produced by a firm that can choose any size production facility.
D) total cost divided by the quantity of output the firm chooses when it can choose a production facility of any size.

Textbook

Survey of Economics: Principles, Applications and Tools

Edition: 6^th

Authors: O'Sullivan, Sheffrin, Perez

Read 37 times

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you're honestly amazing, thank you

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