Author Question: What causes an economy to produce a level of output which lies inside the production ... (Read 66 times)

BRWH

  • Hero Member
  • *****
  • Posts: 553
What causes an economy to produce a level of output which lies inside the production set?

Question 2

The minimum efficient scale is the level of output where the short-run average-total-cost curve reaches its minimum point.
 a. True
  b. False
  Indicate whether the statement is true or false



Juro

  • Sr. Member
  • ****
  • Posts: 337
Answer to Question 1

Inefficient use of resources causes an economy to produce an output which lies inside a production set.

Answer to Question 2

False



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Juro

  • Sr. Member
  • ****
  • Posts: 337

 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

For a complete list of videos, visit our video library