If the Long-Run Average Cost Curve Is U-Shaped, the Optimal

question 120

Multiple Choice

If the long-run average cost curve is U-shaped, the optimal scale of production from society's viewpoint is

• A)the minimum efficient scale.
• B)where maximum economic profit is earned by producers.
• C)where firm profit is large enough to finance research and development.
• D)one which guarantees economic profit.

---

Definitions:

Involved Alcohol

A term referring to events or actions that include or relate to the consumption or use of alcoholic substances.

Lower Class

A social group characterized by low socioeconomic status and limited access to economic resources and opportunities.

GPA Over 3.0

Refers to a grade point average above 3.0 on a 4.0 scale, indicating above-average academic achievement.

Multiple Vehicle

Pertains to scenarios or systems involving more than one vehicle, often used in logistics, traffic management, and fleet operations.