13. True or False? Explain your reasoning. a. The short-run average total cost can never be less...

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13. True or False? Explain your reasoning.

a. The short-run average total cost can never be less than the long-run average total cost.

b. The short-run average variable cost can never be less than the long-run average total cost.

c. In the long run, choosing a higher level of fixed cost shifts the long-run average total cost curve upward.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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