Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 7 - Businesses and the Costs of Production - Quick Quiz for Figure 7.8: 3

Answer

a. planning curve

Work Step by Step

Long run average total cost is called the planning curve because it is used to help the firm decide how much to produce in order to be optimal.
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