Minimum Efficient Scale

question 215

Multiple Choice

Minimum efficient scale

• A) is the point at which economies of scale begin for a particular firm.
• B) is the lowest rate of output per unit of time at which long-run average costs reach a minimum for a particular firm.
• C) applies only to firms with U-shaped long-run average cost curves.
• D) is the point at which diseconomies of scale begin for a particular firm.

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Definitions:

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Herbicides

Chemical substances used to control or kill unwanted plants (weeds).

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Plant Cell

The basic structural and functional unit of plants, distinguished by having a cell wall, chloroplasts, and a central vacuole.