The _________traces that lowest cost per unit at which a firm can produce any level of output when all inputs are variable.
A) long run marginal cost curve
B) short run marginal cost curve
C) implicit cost curve
D) long run average cost curve
E) short run average cost curve

Question

Quizplus · Accepted Answer

The long run average cost curve shows the lowest cost per unit at which a firm can produce any level of output when all inputs are variable. The other options deal with marginal costs or implicit costs, which are not directly related to the lowest cost per unit of output in the long run.

The _________Traces That Lowest Cost Per Unit at Which a Firm