The LRAC is most closely related to which of the following?
A) long-term marketing plans
B) long-term business plans
C) the cost of producing a greater quantity of units
D) the cost of promoting a greater quantity of units
E) the legal responsibility of a company

Question

Quizplus · Accepted Answer

LRAC stands for Long Run Average Cost, which refers to the cost of producing each unit in the long run when all inputs, including capital, can be adjusted. Therefore, it is most closely related to the cost of producing a greater quantity of units.

The LRAC Is Most Closely Related to Which of the Following