Get premium membership and access questions with answers, video lessons as well as revision papers.

Define the optimum level of output.

      

Define the optimum level of output.

  

Answers


Martin
the optimum level of output is the one that minimises the average cost (AC), where the average cost can be defined as the ratio between total cost (TC) and quantity produced (Q).

ac.png

qt.png
marto answered the question on April 17, 2019 at 05:37


Next: Outline the importance of Knowledge of the optimum size of a firm.
Previous: Precisely explain the role of the following editing features of a word processor; i) Find and replace ii) Undo and redo iii) Thesaurus iv) Autocorrect

View More Production Economics Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions