The minimum efficient scale is the smallest quantity of output at which the average fixed cost curve reaches its lowest level. economies of scale begin. the long-run average cost curve reaches its lowest level. the average total cost curve reaches its lowest level. dimi

Suppose a firm's long-run average cost is increasing as the firm produces more output. Then the firm is said to be experiencing which of the following? a.constant returns to scale b.increasing returns to scale c.diminishing marginal product d.decreasing returns to scale

Drag and drop the approprate label into the appropiate spot on the genearlized long-run average cost curve shown below. per unit cost ($/Q) 0 constant returns to scale minimum efficient scale diminishing marginal returns quantity (Q) Q₂ increasing returns to scale caion decreasing returns to scale Activate Window Go to Settings to activa

fixed cost is the same at each output level except when no output is produced. when a firm produces no output,there are no fix cost. true or false? explain

The fixed cost per unit is equal to: Multiple choice question. average variable cost. average total cost. average fixed cost. marginal cost.

The average fixed cost curve will never intersect with either the horizontal or vertical axis. graph. There must be proper positioning of the Average Total Cost curve and Average Variable Cost curve. graph. The Average Total Cost curve and Average Variable Cost curve must not touch (in between is average fixed costs – which can never be zero). graph.