Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / A minimum efficient scale occurs at the smallest level of output at which a firm can minimize long-run average costs

A minimum efficient scale occurs at the smallest level of output at which a firm can minimize long-run average costs

Economics

A minimum efficient scale occurs at the smallest level of output at which a firm can minimize long-run average costs.

a. True

b. False

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

It is a true statement that minimum long-run average cost at the smallest level of output because long-run average cost is less than the production level. It shows the minimum efficient scale of a firm in an economy. It means maximum production at a lesser cost. It shows the efficiency at that level of output.