Suppose That Minimum Efficient Scale Is Approximately 20 Percent of Maximum

question 66

Multiple Choice

Suppose that minimum efficient scale is approximately 20 percent of maximum potential market demand.In that case,

• A)there will be approximately 20 firms in the market
• B)we should expect to see a few large competitors
• C)we should expect to see many small competitors
• D)we should expect a natural monopoly to emerge
• E)minimum efficient scale is too small for perfect competition to exist

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Definitions:

Conflict Management Style

The approach or strategy that an individual uses to handle disputes and disagreements in personal or professional settings.

Don't Worry

An expression used to reassure someone, suggesting they should not be anxious or concerned about a particular issue or outcome.

Low Conformers

Individuals who tend to resist the norms or pressures from a group and assert their own opinions or behaviors.

Independently

Operating or existing without the control or influence of others; autonomously.