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Author Question: If the minimum efficient scale in woodstove production is 100,000 units per year, a. the average ... (Read 40 times)

ereecah

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on: Jun 30, 2018
If the minimum efficient scale in woodstove production is 100,000 units per year,
 a. the average cost of producing 50,000 stoves is greater than the average cost of producing 100,000
  b. the average cost of producing 50,000 stoves is equal to the average cost of producing 100,000
  c. the total cost of producing 50,000 stoves is greater than the total cost of producing 100,000
  d. the firm should not produce more than 100,000 woodstoves
  e. MC exceeds AC at 100,000 stoves

Question 2

Under the gold standard, each country had little control over its own monetary policies.
 a. True
  b. False


Joy Chen

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

A


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