Solved

-Refer to the Graph Above to Answer This Question

Question 24

Multiple Choice

  -Refer to the graph above to answer this question.Which of the following statements is correct? A) Q<sub>1</sub> must be the best output for a firm to produce. B) Q<sub>2</sub> must be the best output for a firm to produce. C) While it is possible for a firm to be too small,it could not be too large. D) While it is possible for a firm to be too large,it could not be too small. E) Firms that produce an output which is less than Q<sub>1</sub> cannot be achieving minimum efficient scale.
-Refer to the graph above to answer this question.Which of the following statements is correct?


A) Q1 must be the best output for a firm to produce.
B) Q2 must be the best output for a firm to produce.
C) While it is possible for a firm to be too small,it could not be too large.
D) While it is possible for a firm to be too large,it could not be too small.
E) Firms that produce an output which is less than Q1 cannot be achieving minimum efficient scale.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions