Minimum efficient scale is defined as
A) the lowest output level at which long-run average costs are at their minimum.
B) the amount of labor that maximizes the marginal product of labor.
C) the point at which marginal cost, average variable cost, and average fixed cost are all equal.
D) the point at which economies of scale are at their maximum.
Answer: A
You might also like to view...
According to loan able funds framework, if business decides to eliminate or postpone expansion plans reducing their need to borrow?
A. There will be excess demand in the loan able fund market B Interest rates will increase (WA) C. Interest rates will decrease D. Interest rates will not change E. Interest rates either can rise or fall
In 2000, the life expectancy in the U.S. was 76.9. The average life expectancy of the other 33 richest countries in the world was 79.2. Over _____ percent of the 2.3 year gap was due to external causes such as motor vehicle accidents, suicide, and homicide.
a. 10 b. 40 c. 50 d. 20 e. 30
Since the 1970s, the velocity of money has
A. behaved in a predictable fashion. B. behaved in an erratic fashion. C. decreased in value. D. increased in a stable and predictable fashion.
If you own 100 shares of preferred stock, how many regular votes would you get to cast at the next stockholders meeting?
A) 500 B) 100 C) 1 D) 0