A fiRm Is Allocatively Efficient If Its Price Equals the Minimum

question 81

True/False

A firm is allocatively efficient if its price equals the minimum long-run average cost of production.

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Definitions:

High-potential Ventures

Businesses or projects characterized by their significant growth potential and capability to yield substantial returns on investment.

Small Businesses

Companies with a limited number of employees and revenue, playing a significant role in the economy.

Real Opportunity

A tangible chance or prospect that has significant potential for positive outcomes or benefits.

Would-be Entrepreneurs

Individuals who aspire to establish and manage their own business, often in the process of developing their ideas and acquiring necessary resources.