The Efficient Scale of a Firm Is Defined as the Point

question 40

Multiple Choice

The efficient scale of a firm is defined as the point where

• A) average total cost is minimized.
• B) marginal revenue equals marginal cost.
• C) price equals marginal cost.
• D) marginal revenue equals zero.

---

Definitions:

Ebbinghaus

Ebbinghaus refers to Hermann Ebbinghaus, a psychologist known for his foundational work on memory and the forgetting curve.

Nonsense Syllables

Stimuli used in psychological experiments, consisting of consonant-vowel-consonant arrangements that do not form real words, to study memory and learning.

Ebbinghaus

refers to Hermann Ebbinghaus, a German psychologist known for his pioneering work in the study of memory, including the forgetting curve and the spacing effect.

Landmarks

Recognizable natural or artificial features that stand out from their surroundings and are often used for navigation.