Long-run average total cost is equivalent to
A) long-run average variable cost.
B) long-run average fixed cost.
C) long-run average fixed cost plus long-run variable cost.
D) long-run average fixed cost minus long-run variable cost.
E) long-run average variable cost minus long-run opportunity cost.

Question

Quizplus · Accepted Answer

In the long run, all costs are variable, so long-run average total cost is equivalent to long-run average variable cost.

Long-Run Average Total Cost Is Equivalent to