At the minimum efficient level of production:
A) a firm will be at the only technically efficient level of production.
B) the market has expanded sufficiently to take advantage of all economies of scale.
C) production has expanded to make the firm profitable at any price.
D) a firm will be at the only short-run economically efficient level of production.

Question

Quizplus · Accepted Answer

The minimum efficient level of production is the point at which a firm has expanded enough to fully exploit all economies of scale, meaning it can produce at the lowest average cost.

At the Minimum Efficient Level of Production