If the Long-Run Average Cost Curve Continuously Slopes Upward as Output

question 370

Multiple Choice

If the long-run average cost curve continuously slopes upward as output rises, minimum efficient scale would be

• A) zero.
• B) at the midpoint of the long-run average cost curve.
• C) at the rate of output associated with the smallest sized plant the firm can build.
• D) nonexistent.

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Organizational structures managed by officials and a set of rules and norms, known for having clear hierarchies and detailed procedures.

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The process by which groups of individuals with similar interests, values, or backgrounds form exclusive groups within a larger community.