Examlex
Which of the following increases the attractiveness of a market?
Minimum Efficient Scale
The smallest level of production at which long-run total average costs are minimized.
Diseconomies of Scale
A situation where a company or organization grows so large that the costs per unit increase, leading to reduced efficiency.
Long-run Average Total Cost
Represents the average cost per unit of output in the long-term, where all inputs are variable, allowing for the adjustment of all factors of production.
Minimum Efficient Scale
The smallest amount of production a company can achieve while still taking full advantage of economies of scale in terms of lowering the average cost per unit.
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