What Does the Term Minimum Efficient Scale Mean

question 127

Multiple Choice

What does the term minimum efficient scale mean?

• A)The largest-size plant capable of achieving minimum long-run average cost.
• B)The lowest average cost of production for a particular size of plant.
• C)The smallest size of plant capable of producing a particular output.
• D)The lowest level of efficiency which a firm is capable of producing.
• E)The smallest-size plant capable of achieving minimum long-run average cost.

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Definitions:

Prosopagnosia

Prosopagnosia is a neurological disorder characterized by the inability to recognize faces, also known as face blindness.

Recognizing Faces

The cognitive process of identifying and verifying the unique features of individuals' faces, enabling one to discern one person from another.

Diagnosed

The process of identifying a disease or condition from its signs and symptoms through examination, testing, and analysis.

Prosopagnosia

A brain disorder that results in a person's inability to identify faces, often referred to as face blindness.