If a Firm in an Industry Achieves the Minimum Efficient

question 63

Multiple Choice

If a firm in an industry achieves the minimum efficient scale at a low cost,then _____

• A)competition in the industry is likely to decrease.
• B)competition in the industry is likely to increase.
• C)the price charged by the firm is likely to be high.
• D)the demand for the firm's product is likely to be less.
• E)the profit earned by the firm is likely to be high.

---

Definitions:

Temperament Categories

Classifications that describe innate disposition or personality traits, typically referring to consistency in responses to stimuli or events across time and situations.

Slow-to-warm-up

Describes a temperament where an individual is initially cautious in new situations but becomes more comfortable over time.

Synchrony

A simultaneous action or occurrence, or the coordination of events to operate in unison, often observed in human interactions and natural processes.