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Ooo QUESTION 23 The minimum possible short-run average costs are equal to long-run average costs when short-run and long-run
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23. The minimum possible short-run average costs are equal tp long-run average costs when the long-run curve is at a minimum point. Because the long run average cost is the evelope of the short run average cost at their respective minimums and the minimum possible short run average cost curve equal to the long run average cost curve ,when the long run curve is at its minimum. Hence, option(D) is correct.

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