How do economists define economic capacity?
A) The maximum physical output possible.
B) The output that maximizes total cost.
C) The output that maximizes total product.
D) The output that minimizes marginal cost.
E) The output that minimizes average total cost.
Correct Answer:
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Q125: Implicit costs are the amounts actually paid
Q126: Q127: All of the following curves,except one,form a Q128: If we assume that the level of Q129: Which of the following pairs are related? Q131: If a firm is making economic profits,then Q132: All of the following statements,except one,are correct.Which Q133: Total product and total output are the Q134: Which of the following statements would be Q135: The division of labour is the dividing
A)Maximum
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