What Is True at the Minimum Efficient Scale

question 57

Multiple Choice

What is true at the minimum efficient scale?

• A)All possible economies of scale have not been exhausted.
• B)The firm has achieved the lowest possible average cost of production.
• C)Any increases in the scale of operation will encounter further economies of scale.
• D)Marginal cost is at its minimum.

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Definitions:

Response Rate

The proportion of individuals who respond to a survey, questionnaire, or research study out of the total number asked to participate.

Generalizing Results

The practice of extending the findings from a research study to a larger population beyond the sample studied.

Biases

Systematic errors or deviations from true values or states due to subjective preferences or beliefs affecting data collection or interpretation.

Convenience Samples

Non-random samples chosen based on availability or ease of access, which may not be representative of the entire population.