Economics · Production and Costs
At the point of tangency between the short-run average total cost curve and the long-run average total cost curve, the short-run marginal cost is _________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1far above the long-run marginal cost
- 2less than the long-run marginal cost
- 3equal to the long-run marginal cost✓
- 4greater than the long-run marginal cost
Correct answer
equal to the long-run marginal cost
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