68 406
Assignments Done
98,6%
Successfully Done
In December 2018

Answer to Question #55603 in Microeconomics for Moe

Question #55603
If a firm is operating at minimum SRAC, it's also operating at a point on its LRAC curve.
Is this true or false and why.
Expert's answer
The SATC curves also tangent to the LRATC curve at the cost-minimizing level of output. At the point of tangency LRATC = SATC. At all other levels of production SATC > LRATC.
So, the statement is true.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions