Each of the HPAE promoted manufactured exports

The output level at which a firm's long-run average total cost is minimized is known as its

a. profit-maximizing output level b. long-run marginal cost c. minimum efficient scale d. revenue maximization level e. equilibrium cost structure

For which of the following problems can well-designed public policy enhance economic efficiency?

a. both externalities and market power b. externalities, but not market power c. market power, but not externalities d. neither externalities nor market power