When a Firm Is Operating at Its Minimum Efficient Scale

question 32

Multiple Choice

When a firm is operating at its minimum efficient scale, its:​

• A)short-run average total cost of production is minimized.
• B)long-run marginal cost of production is minimized.
• C)long-run average cost of production is minimized.
• D)marginal revenue is less than the marginal cost.
• E)total revenue is just equal to the total cost.

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