If the Minimum Efficient Scale in an Industry Were Smaller

question 396

True/False

If the minimum efficient scale in an industry were smaller than the size of the market of that industry, then we would have a natural-monopoly situation.

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Definitions:

United States

A country located in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

BPM (Business Process Management)

A systematic approach to improving an organization's processes, aiming for more effective and efficient outcomes.

BPR (Business Process Reengineering)

A strategy for making an organization's workflows more efficient and effective by radically rethinking and redesigning business processes.

BPI (Business Process Improvement)

A systematic approach to help an organization optimize its underlying processes to achieve more efficient results.