Which of the Following Correctly Defines the Minimum Efficient Scale

question 53

Multiple Choice

Which of the following correctly defines the minimum efficient scale for a firm?

• A) The output level at which the firm earns an abnormal profit
• B) The minimum point of the firm's learning or experience curve
• C) The lowest output at which minimum average cost can be achieved
• D) The output level where average fixed cost is at its minimum point
• E) The level of output produced when the firm is operating at full production capacity

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Definitions:

Martin Seligman

A psychologist known for his work on the theory of learned helplessness and for being a founding figure in the field of positive psychology.

Barbara Fredrickson

A psychologist known for her research on positive emotions and their role in positive psychology and human flourishing.

Experimental Psychology Laboratory

A controlled environment where psychological experiments are conducted, focusing on the study of cognition, perception, and behavior.

University of Toronto

A prestigious public research university located in Toronto, Ontario, known for its significant contributions to various fields of study.