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. long-run profit is maximized
e. profit is at a maximum
C
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Suppose the majority of the shares of Ford stock were sold to a Japanese firm. Assuming all else remains constant, this will
A) decrease net portfolio investment in the United States. B) increase foreign direct investment in the United States. C) increase the balance of the U.S. current account. D) create a capital outflow in the United States. E) increase the balance of the U.S. financial account.
Labor productivity is derived by dividing GDP by
a. itself b. the capital-output ratio c. national income d. capital stock e. the quantity of labor