The lowest point on the firm's long-run supply curve is

A) the shutdown point.
B) the break-even point.
C) between the shutdown point and the break-even point.
D) None of the choices are the lowest point on the firm's long-run supply curve.

Long-run Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity supplied by producers over a longer period, when all inputs can be fully adjusted.

Break-even Point

The financial state at which total costs and total revenues are equal, indicating that a business or project is neither at a loss nor making a profit.

Shutdown Point

The price and output level at which a firm's revenue just covers its variable costs, below which it is better for the firm to temporarily cease operations.