Minimum Efficient Scale Is Defined as the Level of Output

question 310

Multiple Choice

Minimum efficient scale is defined as the level of output at which

• A)all economies of scale are exhausted.
• B)diminishing returns affect average total cost.
• C)the firm's long-run average total cost starts falling.
• D)the maximum output is produced.

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Definitions:

Ganglion Cells

Neurons in the retina of the eye, which gather information from receptor cells (by way of intermediate bipolar cells); their axons make up the optic nerve.

Rods

Photoreceptor cells in the retina of the eye that are extremely sensitive to light and enable vision in low-light conditions.

Ganglion Cells

Neurons located in the retina that receive visual information from photoreceptors via intermediate bipolar cells and transmit it to the brain.

Thalamus

A brain structure that acts as a relay station for sensory and motor signals to the cerebral cortex.