The minimum efficient scale of production is the level of production required for the
A) long run average curve to reach its minimum.
B) variable cost curve to reach its minimum.
C) marginal cost curve to reach its minimum.
D) average cost curve to reach its minimum.
Correct Answer:
Verified
Q37: ATC equals
A)AVC - AFC.
B)FC/Q.
C)(TFC + TVC)/Q.
D)MC +
Q38: At one unit of output AVC is
A)zero.
B)infinite.
C)equal
Q39: Say at the current output level marginal
Q40: When marginal cost is less than average
Q41: With constant returns to scale and factor
Q43: The short-run output expansion path is _
Q44: If some inputs of production do not
Q45: Average total cost is $100 for a
Q46: Assume fixed costs are 470 and labor
Q47: Which statement is false?
A)Short-run cost assumes a
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