The Minimum Efficient Scale Is

question 179

Multiple Choice

The minimum efficient scale is

• A)the level of output where diminishing returns have not set in yet.
• B)the plant size that yields the most profit.
• C)the smallest level of operation where long-run average costs are lowest.
• D)the smallest output level where the firm finally reaches productive efficiency.

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Definitions:

Organic Molecules

Molecules that contain carbon and are found in living organisms.

Metal Ions

Positively charged atoms that have lost one or more electrons, prevalent in many biological and chemical processes.

Major Split

A significant division or separation, often used to refer to a disagreement or divergence in a group or theory.