When a firm is at its efficient scale of operation it produces the
A) maximum rate of output at which long-run average cost is at a minimum.
B) minimum rate of output at which long-run average cost is at a minimum.
C) maximum rate of output where we have lowest long-run marginal cost.
D) minimum rate of output where we have lowest long-run marginal cost.
E) minimum rate of output where we have highest long-run marginal cost.
Correct Answer:
Verified
Q150: What is the concept of diminishing marginal
Q151: Describe what a production function is and
Q152: What is an implicit cost?
Q153: If a firm experiences some gains from
Q154: Ting owns a diamond shop.Last year her
Q156: If a firm experiences gains from specialization
Q157: Timothy owns a landscaping company.If he increases
Q158: Explain what would happen to a graphed
Q159: How will a firm know when it
Q160: Quinn owns a DVD store.Give some examples
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents