Author Question: What causes an economy to produce a level of output which lies inside the production ... (Read 75 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?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

For a complete list of videos, visit our video library