Economics · Cost Curves and Production
Select the correct statement regarding cost curves:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Short run marginal cost curve does not pass through the minimum point of the short run average cost curve.
- 2Short run marginal cost curve always passes through the upward rising portion of the long run average cost curve.
- 3Short run average cost curve always touches the minimum point of the long run average cost curve.
- 4Long run marginal cost curve always passes through the minimum point of long run average cost curve.✓
Correct answer
Long run marginal cost curve always passes through the minimum point of long run average cost curve.
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