An entrepreneur wants to maximize profits without affecting his price. He must produce an output where;
A. Average variable cost is minimum
B. Average fixed cost is minimum
C. Average cost is minimum
D. marginal cost is minimum.
Answer:C
An entrepreneur wants to maximize profits without affecting his price. He must produce an output where;
A. Average variable cost is minimum B. Average fixed cost is minimum C. Average cost is minimum D. marginal cost is minimum.