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The point on which the average cost is minimum in a firm, short run average cost curve will also be the minimum cost point on the firms long-run average cost curve. This is true:

A. Always

B. Never

C. When LAC is falling

D. Only at that level of output when LAC is at its minimum

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  3. In microeconomics, we study:
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  5. The concept of period refers to:
  6. The MRTS along an iso-quant goes on to:
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  9. In the immediate run:
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  11. A market-clearing price:
  12. Demand is consumers:
  13. When income of the consumer increases then demand curve of an inferior good:
  14. Conditions of perfect competition ensure:
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  17. In real life, brand loyalty is a barrier to:
  18. The cost of one thing in terms of the alternative given up is known as:
  19. The demand of the luxuries is:
  20. The largest possible loss that a firm will make in the short run is:
  21. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  22. In economics, Externality means:
  23. If a new production technology for producing compact discs is developed and new firms are attracted…
  24. When sales tax is imposed on monopolist, its:
  25. Which form of market structure is characterized by interdependence in decision-making as between the…
  26. In case of giffin good, price effect is:
  27. Supply and demand changes have their most rapid impact in:
  28. Opportunity costs are also known as:
  29. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  30. In the modern theory of costs, the level of production which the firm considers feasible is known as: