Top Posters
Since Sunday
o
5
5
b
4
s
3
j
3
b
3
m
3
K
3
g
3
L
3
w
3
m
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
tlc_71111 tlc_71111
wrote...
Go to Answer
Posts: 507
Rep: 16 0
5 years ago

Question 1.

The smallest size plant size at which the long-run average cost curve is at its minimum is called the



▸ envelope.

▸ profit-maximizing scale of production.

▸ minimum efficient scale.

▸ shut down point.

Question 2.

Over all levels of output, if a firm's long-run average cost curve declines as output increases, then



▸ small firms and large firms will have identical average costs.

▸ there should be a large number of firms in the industry.

▸ small firms would have lower average costs of production than large firms.

▸ there should be only one firm in the industry.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
Read 80 times
2 Replies
Do What Makes You Come Alive
Replies
Answer verified by a subject expert
gdchavis1gdchavis1
wrote...
#1
Posts: 410
Rep: 66 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

tlc_71111 Author
wrote...
#2
5 years ago
You make an excellent tutor!
Do What Makes You Come Alive
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1043 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 253
  
 1100
  
 289