CA CPT Model Test Paper 13 with solutions for online practice

Question : 115 of 200

Marks: +1, -0

Which of the following statements concerning the long-run average cost curve is false?

It represents the leas-cost input combination for producing each level of output.
It is derived from a series of short-run average cost curves.
The short-run cost curve at the minimum point of the long-run average cost curve represents the least-cost plant size for all levels of output.
As output increases, the amount of capital employed by the firm increases along the curve

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