The minimum efficient scale of a firmMultiple Choiceis realized somewhere in the range of diseconomies of scale.occurs where marginal product becomes zero.is in the middle of the range of constant returns to scale.is the smallest level of output at which long-run average total cost is minimized.

We can calculate long run average total cost by dividing long run total cost by output. Long run…

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The minimum efficient scale of a firm Multiple Choice is realized somewhere in the range of diseconomies of scale.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The minimum efficient scale of a firm
Multiple Choice
is realized somewhere in the range of diseconomies of scale.
occurs where marginal product becomes zero.
is in the middle of the range of constant returns to scale.
is the smallest level of output at which long-run average total cost is minimized.

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