--%>
Assignment Help - homework help

Production at which long-run average cost is minimized

True or false:  A firm have to always produce at an output at which long-run average cost is minimized.  Describe.

It is false. In the long run, under perfect competition, firms have to produce where average costs are minimized. The long-run average cost curve is composed by finding the minimum cost at every level of output. However, in the short run the firm might not be producing the optimal long-run output. Therefore, if there are any fixed factors of production, the firm does not always generate where long-run average cost is minimized.

   Related Questions in Biology

  • Q : Define the term Biomedical The word "

    The word "biomedical" covers an immense range of subjects-everything which relates biology to medicine. This can vary from the apparent such as Bio-chemistry, Anatomy, Physiology, Pharmacology, Microbiology, and Genetics to the less apparent such as B

    		•
  • Q : Explanation of cellular regeneration

    Give a brief explanation of cellular regeneration. How mitosis is associated to this process?

    		•
  • Q : Primary and secondary constrictions of

    Define the primary and secondary constrictions of a chromosome? Write the other name provided to the secondary constriction?

    		•
  • Q : The Ovaries-Female anatomy Describe the

    Describe the Ovaries in Female anatomy. Also explain its characteristics.

    		•
  • Q : Macro-Microeconomics focusing

    _____ focuses upon the overall performance of the economy, when ______ concentrates upon individual decision making and how relative prices and outputs are found: (w) Macroeconomics; microeconomics. (x) Microeconomics; macroeconomics. (y) Occam's Razo

    		•
  • Q : Describe what do protozoans eat

    Describe what do protozoans eat? Do they move in the search for food?

    		•
  • Q : Functions of separation of homologous

    Write down the respective functions of separation of homologous chromosomes and of separation of identical chromatids in the meiosis?

    		•
  • Q : Explain the term vestibular system

    Explain the term vestibular system? How does it operate?

    		•
  • Q : Recommendations for Human Resource

    What are the effects of decentralization on Human Resource Managers ?

    		•
  • Q : What is Automated Voice Response or AVR

    Automated Voice Response (AVR): Commonly abbreviated as AVRS is another word for the more general definition (interactive voice response). It is a computer telephony phone application and hardware which accepts voice input and or touch-phone keypad ch

    		•