Minimum efficient scale refers to the lowest level of output at which

Name: Minimum efficient scale refers to the lowest level of output at which
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Minimum efficient scale is the level of production where the average cost of production is minimized. This means that any level of production below this point will result in higher average costs due to underutilization of resources, while any level of production above this point will result in increasing average costs due to diminishing returns to scale.

Minimum Efficient Scale Refers to the Lowest Level of Output