What is the term for the lowest level of output at which a firm's goods are produced at minimum long-run average total cost? the point of diminishing returns the minimum total product the minimum efficient scale the point of zero marginal cost

What is the term for the lowest level of output at which a firm's goods are produced at minimum long-run average total cost? the point of diminishing returns the minimum total product the minimum efficient scale the point of zero marginal cost

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 21P

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What is the term for the lowest level of output at which a firm's goods are produced at minimum long-run average total
cost?
the point of diminishing returns
the minimum total product
the minimum efficient scale
the point of zero marginal cost

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