If the long-run average cost curve is U-shaped, the optimal scale of production from society's viewpoint is
A) where maximum economic profit is earned by producers.
B) the minimum efficient scale.
C) one which guarantees economic profit.
D) where firm profit is large enough to finance research and development.
B
Economics
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a. True b. False Indicate whether the statement is true or false
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When a binding price ceiling is imposed on a market to benefit buyers,
a. no buyers actually benefit. b. some buyers benefit, but no buyers are harmed. c. some buyers benefit, and some buyers are harmed. d. all buyers benefit.
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