What Is the Term for the Lowest Level of Output

question 80

Multiple Choice

What is the term for the lowest level of output at which a firm's goods are produced at minimum long-run average total cost?

• A) the point of diminishing returns
• B) the minimum total product
• C) the minimum efficient scale
• D) the point of zero marginal cost

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Definitions:

Describing

The act of providing details about something, including its features, qualities, and condition.

Genetically Influenced

Traits or characteristics that are shaped in part by an organism's genetic makeup.

Extraversion

Extraversion is a personality trait characterized by outward turning of emotional, mental, and social energy, favoring an active engagement with the external world.

Emotionality

The intensity and expression of complex emotional states, often reflecting an individual's capacity to respond emotionally to experiences.