--%>
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 : Steps of the management by objectives

    Steps of the management by objectives Set organizational goal: first step is to establish the goals each subordinate is to attain. In some organizations superiors and subordinates work together to establish

    		•
  • Q : Factors of Individual Behavior -

    There are six important factors which influence the behavior of individuals: 1. Personality 2. Ability 3. Perception 4. Motivation 5. Organizational Factors 6. Socio - Culture Factors

  • Q : Define AIDS AIDS : Acquired immune

    AIDS: Acquired immune deficiency syndrome (abbreviated as AIDS) is a disease of the human immune system caused by the human immune-deficiency virus (that is, HIV). Its main symptoms are as: • Lack of energy

    		•
  • Q : Respiratory and metabolic acidosis

    Explain the respiratory acidosis and metabolic acidosis and also the difference between the respiratory alkalosis and metabolic alkalosis?

    		•
  • Q : Ethical judgments As the law is

    As the law is ambiguous, business managers will often face decisions that will rely on their ethical judgments. Comment on this statement, be sure to use an example to elaborate.

    		•
  • Q : Complementary nucleotide chains of DNA

    How two complementary nucleotide chains of DNA facilitate replication process of molecule?

    		•
  • Q : Maximum price which video rental

    Assume that Bill is a big movie buff & enjoys renting movies from the local video rental outlet. Suppose that he is eager to pay $5 for the first movie he rents for the weekend but would pay only $4 for a second and yet only $3 for a third movie. If the vi

    		•
  • Q : Fecundations in osteichthyes and

    How fecundations are different in osteichthyes and in chondrichthyes?

    		•
  • Q : Area of organizational change management

    What is the consequence of technology in shaping the area of organizational change management ?

    		•
  • Q : Significance of iron in diet What is

    What is the significance of iron in diet? Name the disease caused by the deficiency of iron?

    		•