Answer to Question #51333 in Microeconomics for Ed
A profit-maximizing firm with variable labour and capital will always produce at the minimum point of the long run average cost curve. True false or uncertain
A profit-maximizing firm with variable labor and capital will produce at the minimum point of the long run average cost curve only in the long run and will receive normal (zero) profit. But in the short run it will receive profit or loss and produce at some point of the short run average total cost curve. So, the statement is false.
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