A firm is at its optimum size when - JAMB Economics 2021 Question
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
Ask EduPadi AI for a Detailed Answer
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.
Please share this, thanks:
#JAMB #JAMB
Add your answer
No responses