The Figure Given Below Shows Three Short Run Average Total

question 47

Multiple Choice

The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3

-The term minimum efficient scale refers to:

• A)the output corresponding to the minimum point of the short-run average-total-cost curve.
• B)the total of all efficient points along the long-run average-cost curve.
• C)the output corresponding to the highest point of the short-run average-total-cost curve.
• D)the minimum point of the long-run average-cost curve, or the output level at which the cost per unit of output is the lowest.
• E)the maximum point of the long-run average-cost curve, or the output level at which the cost per unit of output is the highest.

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Definitions:

Personal Vulnerability

The susceptibility of an individual to physical or emotional harm from environmental, social, or internal stressors.

Día de Los Muertos

A Mexican holiday celebrated to honor deceased loved ones, observed with traditions like creating altars and offering food.

Mexican

A term referring to something or someone originating from Mexico, a country in North America.

Inevitable

Something that cannot be avoided or is certain to happen.