What condition is being met when goods are being produced and sold at the lowest possible average cost?

Question

asked Aug 3, 2018 133k views

1 Answer

Michaelliu · Answer 1 · 2018-08-10T02:27:53+0000

The condition that is being met is PRODUCTIVE EFFICIENCY. Productive efficiency refers to a situation in which production is carried out without waste. In this situation, when the average cost of production is reduce to the barest minimum, the economy will be operating on the production possibility frontier.

What condition is being met when goods are being produced and sold at the lowest possible average cost?

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions

What condition is being met when goods are being produced and sold at the lowest possible average cost​?

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions

What condition is being met when goods are being produced and sold at the lowest possible average cost?