The efficient scale of a firm is defined as the point where
A) average total cost is minimized.
B) marginal revenue equals marginal cost.
C) price equals marginal cost.
D) marginal revenue equals zero.
A
You might also like to view...
Robert Lucas, a Nobel laureate in economics, argues that there are increasing returns to
A) knowledge capital. B) human capital. C) physical capital. D) financial capital.
A ____ total cost function yields a U-shaped average total cost function
a. cubic b. quadratic c. linear d. a and b only e. a, b, and c
What are sticky wages?
a. Wages that employers will not increase b. Wages that respond to changes in demand c. Wages that do not respond to changes in demand d. Wages that do not respond to changes in supply
Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as
a. unemployed and in the labor force. b. unemployed but not in the labor force. c. in the labor force but not unemployed. d. neither in the labor force nor unemployed.