Minimum Efficient Scale Is Defined as

question 162

Multiple Choice

Minimum efficient scale is defined as

• A) the lowest output level at which long-run average costs are at their minimum.
• B) the amount of labor that maximizes the marginal product of labor.
• C) the point at which marginal cost, average variable cost, and average fixed cost are all equal.
• D) the point at which economies of scale are at their maximum.

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