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JSmith1 JSmith1
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2 years ago
When a plant is operating at the level of output where its short-run average total cost is at its minimum,

▸ the plant is operating at its capacity.

▸ average fixed cost is at a minimum.

▸ average variable cost is at a minimum.

▸ marginal cost is at a minimum.

▸ more of the variable factor of production should be employed.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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CJWVail2CJWVail2
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JSmith1 Author
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