Exhibit 6-15 Long-run average cost
?
If the firm represented in Exhibit 6-15 is operating with a plant whose size corresponds to short-run average total cost curve A, the level of output that would minimize its short-run average total cost is:
A. 500 units per week.
B. 1,000 units per week.
C. 1,500 units per week.
D. 2,000 units per week.
Answer: A
You might also like to view...
A bond has a current market value of $800. The holder of the bond will receive a single payment of $1,000 one year from now. The interest rate is 10 percent. The effective yield on the bond is:
A) $200. B) 10 percent. C) 25 percent. D) negative. E) The yield cannot be determined with the information provided.
"A positive economic statement is always true and a normative economic statement is always false." Do you agree or disagree with this statement? Explain
What will be an ideal response?
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
Each of the following is an industrial country except
A. Belgium. B. Germany. C. Vietnam. D. Sweden.