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Author Question: What causes an economy to produce a level of output which lies inside the production ... (Read 19 times)

BRWH

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on: Jun 30, 2018
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

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Reply #1 on: Jun 30, 2018
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


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BRWH

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Reply #2 on: Jun 30, 2018
Thank you :)


Juro

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Reply #3 on: Jun 30, 2018
Happy to help you


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