Economic efficiency is achieved at a particular output level if:
A) marginal cost is as low as possible.
B) average fixed cost is as low as possible.
C) average total cost is as low as possible.
D) average variable cost is as low as possible.

Question

Quizplus · Accepted Answer

Economic efficiency is achieved when average total cost is minimized, as it reflects the lowest cost per unit of output, considering all fixed and variable costs.

Economic Efficiency Is Achieved at a Particular Output Level If