Every point on a ________ represents the minimum cost at which the associated output level can be produced when the scale of plant can be changed.

A) U-shaped long-run average cost curve
B) marginal cost curve
C) long-run variable cost curve
D) long-run demand curve

U-Shaped Long-Run Average Cost Curve

This describes the phenomenon where, over time, average costs first decrease with increased production, hit a minimum, and then increase with further production increase, forming a U-shape.

Minimum Cost

The lowest possible expense at which a particular set of goods or services can be produced or acquired.