In a long run average cost curve which point is said to be the constant return to scale?

Option 1: Upward Slope -> This represents diseconomies of scale (decreasing returns to scale).

Option 2: Minimum Point -> This represents constant returns to scale, where average costs are at their lowest.

Option 3: Mid-point in upward slope -> This is still in the diseconomies of scale region.

Option 4: Downward Slope -> This represents economies of scale (increasing returns to scale).

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Hence, Option 2: Minimum Point -> At the minimum point of the long run average cost (LRAC) curve, the firm experiences constant returns to scale. This is the most efficient scale of operation where average costs are at their lowest and neither increasing nor decreasing. To the left of this point, the firm experiences economies of scale (downward slope), and to the right, it faces diseconomies of scale (upward slope). -> correct