The Term Minimum Efficient Scale Means

question 68

Multiple Choice

The term minimum efficient scale means:

• A)the output corresponding to the minimum point of the short run average total cost curve.
• B)the total of all efficient points along the long-run average-cost curve.
• C)diseconomies of scale.
• D)the minimum point of the long-run average-cost curve,or the output level at which the cost per unit of output is the lowest.
• E)the maximum point of the long-run average-cost curve,or the output level at which the cost per unit of output is the highest.

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Definitions:

Explicit Quantifiers

Symbols or phrases in logic that explicitly specify the quantity of subjects to which a statement applies.

Universal

A term referring to concepts, properties, or statements that apply universally, without exceptions.

Particular

In philosophy, an individual object as opposed to a universal quality; distinguished from general or universal by being specific or detailed.

Traditional Square

A diagram in classical logic illustrating the logical relationships among the four types of categorical propositions.