Minimum Efficient Scale Refers to the

question 26

Multiple Choice

Minimum efficient scale refers to the

• A)minimum size plant in any given industry.
• B)minimum point on the short-run average total cost curve.
• C)output level when economies of scale first set in.
• D)output level when diseconomies of scale first set in.
• E)lowest output level at which average total costs are minimized.

Comprehend the concept of business ecosystems and the synergy it generates.

Recognize the role of managers at all levels in strategic management and entrepreneurship.

Identify different modes of strategy making and their characteristics.

Realize the importance of strategic thinking and planning in effective management.