The Firm's Efficient Scale Is the Quantity of Output That

question 298

Multiple Choice

The firm's efficient scale is the quantity of output that minimizes

• A)average total cost.
• B)average fixed cost.
• C)average variable cost.
• D)marginal cost.

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Definitions:

Reframe

The technique of changing the perspective on a situation, thought, or belief to view it in a more positive or constructive light.

Double-sided Reflection

A therapeutic technique that acknowledges both sides of a client's ambivalence or situation, reflecting conflicting feelings or perspectives.

Closed-ended Response

A type of response that is limited to specific options, typically used in surveys or questionnaires.

Response Shift

A change in an individual's self-evaluation or standards of measurement, often due to a change in their understanding, values, or definition of a concept.