The Smallest Quantity of Output at Which Long-Run Average Cost

question 365

Multiple Choice

The smallest quantity of output at which long-run average cost is at a minimum is a firm's

• A) maximum efficient scale.
• B) profit-maximizing output point.
• C) minimum efficient scale.
• D) efficient output point.

---

Definitions:

Tip-Of-The-Tongue

A phenomenon of memory failing to retrieve a word, while leaving a feeling that retrieval is imminent.

Forgetting

The loss or change of memory over time, which can occur for many reasons, ranging from brain injury to simple lack of use.

Physical Exercise

Activities related to the body that boost or preserve physical fitness and holistic health.

Stimulate Brain Cell

The process of activating or promoting the activity of neurons in the brain, which can influence neuroplasticity, learning, and memory.