The Level of Output at Which All Economies of Scale

question 301

Multiple Choice

The level of output at which all economies of scale have been exhausted is known as

• A)constant returns to scale.
• B)minimum efficient scale.
• C)the economically efficient output level.
• D)optimal economic size.

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Definitions:

Stanford-Binet Intelligence Scale

An individually administered intelligence test that was revised from the Binet-Simon Scale, used to assess human intelligence.

Mental Age

A measure of an individual's mental aptitude based on the average age at which normal individuals achieve a certain level of performance.

Chronological Age

The age of an individual as measured from their birth to the present date, typically expressed in years.

Symmetrical Bell-Shaped Curve

A graphical representation of a normal distribution, indicating that most occurrences take place around the mean and fewer occur as one moves away from the mean.