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:

Patronage

The support, encouragement, privilege, or financial aid that an organization or individual bestows to another.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, radically transforming societies.

Vulnerable

Exposed to the possibility of being attacked or harmed, either physically or emotionally.

Economic Interests

Financial or material stakes affecting individuals, groups, or institutions, driving their actions in the economy.