When all of a firm's inputs are doubled, input prices do not change, and this results in the firm's level of production less than doubling, a firm is operating: A. on the upward-sloping portion of its long-run average total cost curve. B. on the downward-sloping portion of its long-run average total cost curve. C. at the minimum of its long-run average total cost curve. D. on the upward-sloping portion of its marginal cost curve.

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.