The best characterization of a firm that is operating on its long-run average cost cu
A.Experiences constant returns to scale
B.Produces a given output at the least possible cost
C.Chooses a plant size the minimizes the average fixed cost
A.Experiences constant returns to scale
B.Produces a given output at the least possible cost
C.Chooses a plant size the minimizes the average fixed cost
第1题
In the short run, an increase in output at low levels of production will most likely cause:
A.an increase in the marginal cost due to the rising total fixed cost
B.an increase in the marginal cost due to the law of diminishing returns
C.a decrease in the marginal cost due to economies from greater specialization
第2题
In regard to the relation between output and costs in the short-run, a decline in the marginal costmost likely occurs at what level of production?
A.Low output
B.High output
C.Profit-maximizing output
第3题
Which of the following measures of profits is most likely necessary for a firm to stay in business in the long run?
A.normal
B.economic
C.accounting
第4题
Which of the following most accurately describes the relationship between the average total cost (ATC) curve and the average variable cost (AVC) curve? The vertical distance between the ATC and AVC curves:
A)increases as output increases.
B)decreases as output increases.
C)increases and then decreases as output increases.
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