A firm is operating beyond minimum efficient scale in a perfectly competitive industry. To maintain long-term viability,
Question:
A firm is operating beyond minimum efficient scale in a perfectly competitive industry. To maintain long-term viability, the most likely course of action for the firm is to:
A. operate at the current level of production.
B. increase its level of production to gain economies of scale.
C. decrease its level of production to the minimum point on the long-run average total cost curve.
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C is correct The firm operating ...View the full answer
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