-In the above figure, point B is called
A) the maximum efficient scale.
B) the minimum efficient scale.
C) the planning horizon.
D) the point of diminishing marginal product.

Name: -In the above figure, point B is called A) the maximum efficient scale. B) the minimum efficient scale. C) the planning horizon. D) the point of diminishing marginal product.
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Question

-In the above figure, point B is called
A) the maximum efficient scale. 
B) the minimum efficient scale. 
C) the planning horizon. 
D) the point of diminishing marginal product.

Quizplus · Accepted Answer

Point B is referred to as the minimum efficient scale, which is the smallest output level at which long-term average costs are minimized.

-In the Above Figure, Point B Is Called