The minimum efficient scale for a firm is the
A) lowest rate of output at which long-run average cost is at a minimum
B) lowest rate of output at which short-run average total cost is at a minimum
C) lowest rate of output at which short-run average variable cost is at a minimum
D) average of the rates of output at which long-run average cost is at a minimum
E) average of the rates of output at which short-run average total cost is at a minimum
Correct Answer:
Verified
Q121: With respect to the average cost curves,
Q167: Economies of scale can be caused by
A)all
Q168: If a firm is producing at its
Q169: Exhibit 7-9 Q170: The shape of short-run variable cost curve Q171: Empirical studies of production suggest that the Q173: Economies of scale occur where Q175: A firm's long-run average cost curve is Q176: For each size of plant a manufacturer Q177: Exhibit 7-10 
A)long-run average cost
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