If a Firm Is Producing as Efficiently as It Knows

question 23

Multiple Choice

If a firm is producing as efficiently as it knows how,then how will the total cost function slope?

• A)Upward
• B)Downward
• C)No Slope
• D)Downward until an output threshold value,then upward
• E)Upward until an output threshold value,then downward

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Definitions:

Weathering

The process by which rocks, minerals, and soils are broken down by the effects of weather, water, and biological organisms.

Geologic Information

Data related to the earth's physical structure and substance, its history, and the processes that act on it.

Topographic

Pertaining to the detailed and accurate representation of natural and artificial physical features of an area on a map.

Mesa

A flat-topped hill with steep sides, commonly found in arid and semi-arid regions, formed by erosion.