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:

Relationship Based

Pertaining to approaches, decisions, or actions that prioritize the importance of interpersonal relationships.

Intangibles

Things that cannot be touched or measured precisely but are nonetheless valuable, such as brand reputation or goodwill.

Accommodative Strategies

Approaches in negotiations or conflict resolution where one party is willing to make concessions to maintain the relationship or to reach an agreement.

Subordinating Goals

The objective of making certain goals less important or secondary to other primary objectives.