the efficient scale of the firm is the quantity of output that a. minimizes average total cost. b. maximizes profit. c. maximizes marginal product. d. minimizes average variable cost.

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01-12-2022
Business

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the efficient scale of the firm is the quantity of output that a. minimizes average total cost. b. maximizes profit. c. maximizes marginal product. d. minimizes average variable cost.

Sagot :

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contexto38 contexto38 · Answer 1 · 2022-12-05T13:41:20-05:00

Out of the choices provided above, it can be concluded to state that the efficient scale is quantity of output that minimizes the average total costs of the firm. Therefore, the option A holds true.

The average total costs can be referred to or considered as the summation of all the costs incurred by a producer in the process of production of its goods and/or services. It is the aggregate of the fixed costs as well as the variable costs of the firm, which show the efficiency of the firm during a given particular period.

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the efficient scale of the firm is the quantity of output that a. minimizes average total cost. b. maximizes profit. c. maximizes marginal product. d. minimizes average variable cost.

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