Firms achieve productive efficiency in the long run by
a. striving to minimize fixed cost
b. striving to maximize revenue
c. producing at their minimum long-run average cost
d. producing at their minimum long-run marginal cost
e. producing the output consumers want most
C
Economics
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A) very expensive; less likely B) inexpensive; less likely C) very expensive; more likely D) inexpensive; more likely
Economics
The long-term supply of labor
A. can vary from region to region but does not change within a region. B. does not depend on location as flows of workers between regions cancel each other out. C. depends on location, as some regions are more attractive to workers. D. generally does not vary much from region to region.
Economics