In an Oligopoly, Minimum Efficient Scale Is Likely to Occur

question 24

True/False

In an oligopoly, minimum efficient scale is likely to occur at a level of output that is a large fraction of industry sales.

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Definitions:

Guidelines

Recommended practices or principles aimed at steering decisions or actions, usually based on evidence or expert consensus.

Direct Evidence

Evidence that directly proves a fact without the need for any inference or presumption, such as testimony from a witness about what they personally observed.

Circumstantial Evidence

Evidence that relies on an inference to connect it to a conclusion of fact, such as a fingerprint at the scene of a crime, rather than direct evidence like eyewitness testimony.

Existence

The state or fact of being real, present, or in operation.