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.

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Definitions:

Oedipus Complex

A psychoanalytic theory which posits a child's unconscious sexual desire for the opposite-sex parent and jealousy toward the same-sex parent.

Phallic Stage

A stage in Freud's theory of psychosexual development, occurring between ages 3 and 6, where the libido is centered on the genital area.

Superego Development

The formation and growth of the superego, which is the part of the personality that holds moral standards, ideals, and conscience.

Castration Anxiety

A psychoanalytic concept suggesting that the fear of losing one’s genitalia or their power as a symbolic representation of masculinity.