Question: 14. True or false? Explain your reasoning. a. The short-run average total cost can never be less than the long-run average total cost. b. The

14. True or false? Explain your reasoning.

a. The short-run average total cost can never be less than the long-run average total cost.

b. The short-run average variable cost can never be less than the long-run average total cost.

c. In the long run, choosing a higher level of fixed cost shifts the long-run average total cost curve upward.

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