Examlex
Which of the following statements is correct?
Automobile Manufacturing
The industry and process involved in designing, producing, marketing, and selling motor vehicles.
Ford Motor Company
An American multinational automaker founded by Henry Ford, known for revolutionizing the automobile industry.
Constant Returns to Scale
A condition where increasing all inputs by the same proportion results in an increase in output by that same proportion.
Minimum Efficient Scale
The smallest level of production at which long-run total average costs are minimized.
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