9. Suppose a firm has only three possible plant-size options, represented by the ATC curves shown in the accompanying figure. What plant size will the firm choose in producing

( a ) 50, ( b ) 130, ( c ) 160, and ( d ) 250 units of output? Draw the firm’s long-run average-cost curve on the diagram and describe this curve. LO4

Transcribed Image Text:

ATC ATC3 ATC2 ATC 0 80 150 240 Q