When a firm operates at efficient scale, it is producing at the minimum point on its average total cost curve
a. True
b. False
Indicate whether the statement is true or false
True
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Financial instruments and money share which of the following characteristics?
A. Both can function by acting as a means of payment and allow for trading of risk. B. Both can function as a means of payment and a store of value. C. Both can function as a store of value even though they do not allow for trading of risk. D. Both can function as a store of value and allow for trading of risk.
Which of the following marketing pieces takes the concept of marginalism into account?
What will be an ideal response?
As output expands from 199 to 200 units, total costs rise from $2,985 to $3,000. At this stage, the marginal cost and average cost of production are
A. $1 and $200. B. $1. C. $15 and $15. D. $29.85 and $15.00