Multiple Choice
When a firm is operating at its minimum efficient scale,its _____
A) short-run average total cost of production is minimized.
B) long-run marginal cost of production is minimized.
C) long-run average cost of production is minimized.
D) marginal revenue is less than its marginal cost.
E) total revenue is just equal to its total cost.
Correct Answer:
Verified
Correct Answer:
Verified
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