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.

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Definitions:

Fluid Wave

A physical examination technique used to detect the presence of significant amounts of fluid in the abdomen.

Hepatomegaly

An abnormal enlargement of the liver, which can be an indicator of various diseases or conditions.

Dullness

A lack of sharpness or vibrancy in sensation, often used in medical contexts to describe a type of sound heard during percussion of the body that suggests an underlying condition or abnormality.