Table 13-17 Consider the Following Table of Long-Run Total Cost for Four

question 231

Multiple Choice

Table 13-17
Consider the following table of long-run total cost for four different firms:
-Refer to Table 13-17. Firm 4's efficient scale occurs at what quantity?

• A)2
• B)3
• C)4

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Definitions:

Drum Brake Micrometer

A tool used to measure brake drum diameter and to check for out-of-round.

Out-of-round

A condition where a component, such as a rotor or drum, is not perfectly circular, leading to uneven wear or vibration.

Nonfloating Drum

A type of drum in machinery or equipment that is fixed in place and does not move or float axially under operation.

Wheel Bearing

Any of several types of bearings that reduce friction at the interface of the axle and the hub.