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When a Firm Is at Its Efficient Scale of Operation

Question 155

Multiple Choice

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.

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