The Efficient Scale of the Firm Is the Quantity of Output

question 104

Multiple Choice

The efficient scale of the firm is the quantity of output that

• A)maximizes marginal product.
• B)maximizes profit.
• C)minimizes average total cost.
• D)minimizes average variable cost.

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Definitions:

Instrumentally Valuable

Something valued not for its own sake, but for the utility it brings in achieving something else considered as an end.

Permissible

Allowed or permitted within a certain set of rules, laws, or ethical guidelines.

Judith Jarvis Thomson

A philosopher best known for her contributions to moral philosophy and bioethics, including her influential defense of abortion rights in "A Defense of Abortion."