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Author Question: The efficient scale of a firm is defined as the point where A) average total cost is minimized. ... (Read 72 times)

theo

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on: Jun 29, 2018
The efficient scale of a firm is defined as the point where
 
  A) average total cost is minimized.
  B) marginal revenue equals marginal cost.
  C) price equals marginal cost.
  D) marginal revenue equals zero.

Question 2

If an indifference curve is a straight line it will not show which of the following?
 
  A) any marginal rate of substitution
  B) diminishing marginal rate of substitution
  C) combinations of goods among which a consumer is indifferent
  D) None of the above answers is correct.


TheNamesImani

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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