Minimum efficient scale refers to the lowest level of output at which
A) the firm can earn a profit.
B) average cost is minimized.
C) the firm will operate.
D) the average cost curve is downward sloping.
B
Economics
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Game theory is the study of which of the following?
a. The prisoner's dilemma b. The behavior of people engaged in recreational games c. The mutual interdependence of firms in oligopolistic industries d. The downward sloping demand curve faced by firms in an oligopoly e. The interaction between marginal and average revenue
Economics
Which of the following groups has the lowest poverty rate?
a. blacks b. Asians c. children (under age 18) d. female households, no spouse present
Economics