Which of the following statements concerning the long-run average cost curve is false? (a) It represents the least-cost input combination for producing each level of output. (b) It is derived from a series of short-run average cost curves. (c) The short-run cost curve at the minimum point of the long-run average cost curve represents the least-cost plant size for all levels of output. (d) As output increases, the amount of capital employed by the firm increases along the curve.
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sorry
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sorry I don't know next time
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