--%>
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 : Gray matter and white matter of the

    State some of the respective constituents of gray matter and of white matter of the spinal cord?

    		•
  • Q : How excretory system of molluscs

    Explain how excretory system of molluscs characterized? Answer: Molluscs have one or two pair of sponge like nephridia, similar to kidneys.

    		•
  • Q : Concepts of resting potential-Action

    How different are the concepts of the resting potential, action potential and excitation threshold concerning neurons?

    		•
  • Q : Haemoglobin importance At high

    At high altitudes, explain whether it is important for the blood to have more or less haemoglobin?

    		•
  • Q : Turning of embryo from gastrula to

    How does the embryo turn from gastrula to neurula? How is the neural tube made? What is the embryonic origin of nervous system in vertebrates?

    		•
  • Q : Cell membrane Regarding permeability

    Regarding permeability what kind of membrane is the cell membrane? Answer: The cell membrane is a chosen permeable membrane, that is, it permits the passage of water

    		•
  • Q : Amphibian features that make them

    What are the amphibian features that make them dependent on water to survive?

    		•
  • Q : R groups-central carbons

    Do the –R groups bound to central carbons participate in union between amino acids?

    		•
  • Q : What happens if government let

    If ration coupons are utilized to find out who gets the products obtainable, what happens if the government let individuals to trade them?The result is same to a system of price rationing. The price of the rationed good will increase to the lev

    		•
  • Q : Description of lateral meristems Give a

    Give a brief description of the term lateral meristems? Where can they be found and which type of plant growth do they promote?

    		•