Figure 13-7 -Refer to Figure 13-7.Economies of scale are exhausted at which output level? A)Q₁ units B)Q₂ units C)Q₃ units D)more than Q₁ units

Name: Figure 13-7 -Refer to Figure 13-7.Economies of scale are exhausted at which output level? A)Q 1 units B)Q 2 units C)Q 3 units D)more than Q 1 units
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

Economies of scale are exhausted at the output level where the long-run average cost curve is at its minimum. In Figure 13-7, this occurs at output level Q3.

Figure 13-7 -Refer to Figure 13-7.Economies of Scale Are Exhausted at Which