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Long-run total cost A.) represents the lowest possible total cost of producing a given level of output. B.) is always equal to or greater than

Long-run total cost

A.) represents the lowest possible total cost of producing a given level of output.

B.) is always equal to or greater than short-run total cost.

C.) is greater than short-run total cost when short-run total cost is at its minimum point.

D.) both "is always equal to or greater than short-run total cost" and "is greater than short-run total cost when short-run total cost is at its minimum point".

E.) All of the choices are correct.

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