Question

If a firm is operating at minimum SRAC, it's also operating at a point on its LRAC curve.
Is this true or false and why.

Answer 1

The SATC curves also tangent to the LRATC curve at the cost-minimizing level of output. At the point of tangency LRATC = SATC. At all other levels of production SATC > LRATC.
So, the statement is true.