Homework Answers
The manager is making a right statement.
If the firm is producing at a lowest point of the average total cost that means the firm is most efficient i.e. they are producing at the point were the firm is using the least cost it can to produce a good. it also means the wastage in the firm is lowest and the firm should continue to produce at the same point in the long run as well.
This is the lowest cost where the firm can produce and producing at this point will ensure maximum profit.
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