The smallest quantity of output at which long-run average cost is at a minimum is a firm's ________
A) maximum efficient scale
B) profit-maximizing output point
C) minimum efficient scale
D) efficient output point
C
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Refer to Figure 4-6. What is the value of producer surplus after the imposition of the price floor?
A) $3,000 B) $3,600 C) $4,200 D) $4,500
The Tax Reforms of 1981 and 1986
a. caused public debt to increase dramatically b. raised the marginal tax rates c. increased the number of tax brackets d. were made principally on excise taxes e. increased the government's ability to discriminate with respect to who pays what taxes
In the figure above, the combination of computers and televisions shown by point X A) is not attainable at the point in time for which the graph is drawn. B) can be attained only if some of societies resources are unemployed. C) suggests that the law of increasing relative costs does not hold. D) results only because society allocates its resources inefficiently.
What is a risk measure?
a. Alpha b. Required return on the market portfolio c. Standard deviation of historical returns