In the short run a firm’s lowest cost level of output is the minimum point on its _________ cost curve.
A) average total
B) total variable
C) average fixed
D) marginal
A) average total
Economics
You might also like to view...
Refer to Figure 18.1. The opportunity cost of bicycles in the United States is
A) 1/3 of a hang glider. B) 1/2 of a hang glider. C) 3 hang gliders. D) 4 hang gliders.
Economics
Explain why movie theaters charge more for evening performances than for matinees
Economics
Market demand curves are found by
a. vertically summing individual demand curves. b. horizontally summing individual demand curves. c. summing individual demand curves in a parallel fashion. d. adding the slopes of individual demand curves.
Economics
Legal and social rules that affect the ownership of property are:
A. the coincidence of wants. B. the division of labor. C. the freedom of enterprise. D. property rights.
Economics