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.
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.
There are certain things that people in the business world frown upon. Things like lows in the economy, housing crisis,…
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