Production Units Have an Optimal Rate of Output Where

question 126

Multiple Choice

Production units have an optimal rate of output where:

• A)total costs are minimum.
• B)average unit costs are minimum.
• C)marginal costs are minimum.
• D)rate of output is maximum.
• E)total revenue is maximum.

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Definitions:

Medium of Exchange

An instrument used to facilitate the sale, purchase, or trade of goods between parties, commonly accepted in the form of currency.