The Minimum Efficient Scale of a Firm Is the

question 146

Multiple Choice

The minimum efficient scale of a firm is the

• A)largest scale of production for which the marginal cost is at a minimum.
• B)largest scale of production for which the long-run average total cost is at a minimum.
• C)largest scale of production for which the long-run average variable cost is at a minimum.
• D)smallest scale of production for which the long-run average total cost is at a minimum.
• E)smallest scale of production for which the long-run average variable cost is at a minimum.

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Definitions:

Affirmation

A positive statement or declaration, often used in the context of legal oaths.

In Pari Delicto

In equal fault.

Illegal Agreement

A contract or agreement that is not enforceable by law because it involves activities that are against the law or public policy.

Voidable

Voidable refers to a legal contract or transaction that is valid and enforceable on the surface but may be declared void by one of the parties due to certain defects or conditions.