The Long run Average Cost curve (LAC) in modern cost theory is roughly

Related MCQs

• Under increasing returns to scale, which of the following is the nature of the long run average cost curve?
• The saucer-type of modern Short run Average Variable Cost (SAVC) represents
• If the long run cost curve shifts down wards it is an indication of
• The U shape of the average total cost curve reflects
• The U shape of the LAC reflects
• In long run, which factor of production is fixed?
• If a firm’s average cost is Rs.32 at 6 units of output and Rs.34 at 7 unit, which one among the following is the marginal cost of producing the 7th unit
• The MC curve cuts the AC curve at
• When AC minimum in short run
• AFC curve will always be