The Lowest Rate of Output Per Unit of Time at Which

question 179

Multiple Choice

The lowest rate of output per unit of time at which long-run average costs for a firm are at a minimum defines

• A) maximum efficient scale.
• B) minimum efficient scale.
• C) allowable efficient scale.
• D) short-run efficient scale.

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Definitions:

Electrical Impulses

Quick bursts of electricity that are used by nerves to communicate within the body, especially in the nervous system.

Transmission

The process or mechanism by which something is conveyed or transferred from one place, person, or thing to another, often used in reference to diseases or information.

Pulmonary Function Test

A test that evaluates a patient’s lung volume and capacity; used to detect and diagnose pulmonary problems or to monitor certain respiratory disorders and evaluate the effectiveness of treatment.

Lung Capacity

The total volume of air that the lungs can hold after maximum inhalation.