What Does the Term "Minimum Efficient Scale" Mean

question 10

Multiple Choice

What does the term "minimum efficient scale" mean?

• A)The smallest size a firm can be in order to minimize both short-run and long-run average costs.
• B)The smallest size a firm can be in order to minimize short-run marginal cost.
• C)The smallest size a firm can be in order to minimize short-run average cost.
• D)The smallest size a firm can be in order to minimize long-run marginal cost.
• E)The smallest size a firm can be in order to minimize both short-run and long-run marginal cost.

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Definitions:

Ascospores

Spores produced inside an ascus, which is a type of spore-bearing structure found in fungi belonging to the Ascomycota phylum.

Plasmogamy

The fusion of the cytoplasm from two distinct fungal or algal cells, typically as part of sexual reproduction, preceding the fusion of nuclei.

Karyogamy

The fusion of two haploid nuclei; follows fusion (plasmogamy) of cells from two sexually compatible mating types.

Lichens

A symbiotic association between a fungus and an algae or cyanobacteria, living together to form a single, distinct organism that often appears as leafy or crusty growths on rocks and trees.