Q45When a factory is operating at the level ofoutput where its short-run average totalcost is at its minimum, ...а.Marginal cost is at a minimum.b.Average fixed cost is at a minimum.С.The factory is operating at its capacity.d.More of the variable factor of productionshould be employed.е.Average variable cost is at a minimum.

We know that Short-run average expense (SRATC/SRAC) approaches average fixed expenses in addition to…

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Q45 When a factory is operating at the level of output where its short-run average total cost is at its minimum, ...

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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Question

Q45
When a factory is operating at the level of
output where its short-run average total
cost is at its minimum, ...
а.
Marginal cost is at a minimum.
b.
Average fixed cost is at a minimum.
С.
The factory is operating at its capacity.
d.
More of the variable factor of production
should be employed.
е.
Average variable cost is at a minimum.

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