What Does MES Refer To

question 38

Multiple Choice

What does MES refer to?

• A)The marginal efficient size of a firm
• B)The biggest-size plant that is capable of achieving economies of scale.
• C)The biggest-size plant that is capable of achieving diseconomies of scale
• D)The smallest-size plant that is capable of achieving diseconomies of scale
• E)The smallest-size plant capable of achieving the lowest long-run average cost of production.

---

Definitions:

Impermeable Shale

A sedimentary rock composed of clay minerals that has low permeability, inhibiting the flow of fluids through it.

Truncated Oil-bearing

Refers to oil reservoirs that have been cut off or shortened, often by geological processes such as erosion or faulting.

Anticline

A type of geological fold characterized by an arch-like shape where the oldest rocks are at the core.

Fault Trap

A geological structure where displaced strata create a trap that can contain fluids such as oil or gas.