Author Question: When a firm is no longer able to reduce its long-run average cost by expanding, it has achieved its ... (Read 54 times)

roselinechinyere27m · **on:** Jun 30, 2018

When a firm is no longer able to reduce its long-run average cost by expanding, it has achieved its minimum efficient scale of production.
a. True
b. False

Question 2

Under a flexible exchange rate system, which one of the following would not directly affect the exchange rate?
a. a change in income
b. the relative inflation rates in two countries
c. the salary of the president of the United States
d. a change in capital flows
e. a change in the level of exports or imports