The tangency points between the long-run average cost curve (LRAC) and
The tangency points between the long-run average cost curve (LRAC) and the short-run average cost curves (SRAC) are
A) always at the minimum of the SRACs.
B) never at the downward portion of the SRACs.
C) always at the maximum of the SRACs.
D) not necessarily at the minimum of the SRACs.
ANSWER
D
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