When a firm is operating at its minimum efficient scale, its a. ...

[tichca]

When a firm is operating at its minimum efficient scale, its
 a. short-run average total cost of production is minimized
  b. long-run marginal cost of production is minimized
  c. long-run average cost of production is minimized
  d. long-run profit is maximized
  e. profit is at a maximum

Question 2

When the exchange rate is allowed to adjust to market forces, all of the following are true except one. Which is the exception?
 a. The foreign exchange market clears continually.
  b. The quantities of foreign exchange demanded and supplied are equal.
  c. The exchange rate will only change if the central bank alters the exchange rate.
  d. The exchange rate will remain constant until a change occurs in one of the factors that affect supply or demand.
  e. The forces of demand and supply determine the exchange rate.

[Shshxj]

Answer to Question 1

C

Answer to Question 2

C

[tichca]

Correct answers!

[Shshxj]

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