A firm's most efficient output is
A. always its most profitable output.
B. at the minimum point of its ATC curve.
C. at the minimum point of its AVC curve.
D. impossible to find.
B. at the minimum point of its ATC curve.
You might also like to view...
Which of the following is TRUE?
A) For an inferior good, when income increases, the demand curve shifts leftward. B) The demand curve for a good shifts leftward when the price of a substitute rises. C) If consumers expect the price of a good will rise in the future, the demand curve shifts leftward. D) An increase in population shifts the demand curve for most goods leftward.
Which actor in the simplified circular flow model buys or rents land, labor, and capital?
A. Firms B. Households C. Markets for factors of production D. Government
The governmental interference with the market exchange often reduces the total surplus
a. True b. False Indicate whether the statement is true or false
If the Fed increases the money supply, the interest rate
a. rises and spending increases b. rises and spending decreases c. falls and spending increases d. falls and spending decreases e. falls, business spending increases, and consumer spending decreases