Question on: JAMB Economics - 2021
A firm is at its optimum size when ___________
A
It has a motive to increase output
B
It produces the greatest output at a minimum cost
C
Marginal cost equals marginal revenue
D
Marginal cost is less than marginal revenue
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Correct Option: B
A firm is at its optimum size when it produces the greatest output at a minimum cost. This means the firm is operating at the most efficient level.
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