A single-plant firm trying to select the rate of output consistent with an overall plant size that
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A single-plant firm trying to select the rate of output consistent with an overall plant size that yields the minimum efficient scale will choose a rate output for which
a) The long-run marginal cost curve crosses the long-run average fixed cost curve at the rate of output.
b) Long-run average total cost is lowest at the rate of output.
c) The short-run marginal cost curve crosses the short-run average total cost curve at that rate of output.
d) Total fixed cost are minimized at that rate of output.Expert Answer:
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