For a Firm in Monopolistic Competition,the Efficient Scale Is the Amount

question 183

Multiple Choice

For a firm in monopolistic competition,the efficient scale is the amount of output at which ________ is a minimum.

• A) fixed cost
• B) average total cost
• C) average variable cost
• D) average fixed cost
• E) marginal cost

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Definitions:

Add

In mathematics, it refers to the operation of combining two or more quantities to achieve a sum.

Conj

Conj, short for conjunction, refers to the logical operator that connects two propositions, statements, or terms, where the compound statement is true if both components are true.

Simp

A colloquial expression indicating someone who goes to great lengths to gain the favor of another, often ignoring their own dignity.

Add

To combine one or more numbers or values to get a sum or total.