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QUESTION 34 The efficient scale of the firm is the quantity of output that o maximizes marginal product maximizes profit mini
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1] Correct option: C] minimizes average total costs

The efficient scale of the firm is the quantity of output that minimizes average total costs

2] Correct option: A] always declines with increased levels of output

The average fixed cost always declines when the firm increases its output as the constant fixed cost is spread over a larger output.

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