Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it. when the firm cannot lower its average total cost by changing its plant, then it is operating on its long-run average cost curve at a point with

Draw the firm's long-run average cost curve. Label it. Draw a point on the LRAC curve at which the firm cannot lower its average total cost. Draw the firm's short-run average total cost curve that is consistent with the point you have drawn. Label it. (see LRAC )

When the firm cannot lower its average total cost by changing its plant, then it is operating on its long-run average cost curve at a point with

Constant returns of scale (see image 2)

i guess you could put raise the economic balance

answercontrol is returned to method c;