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Industry studies often suggest that firms may have long-run average cost curves that show some output range over which there are economies of scale and a wide range of output over which
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What is Minimum efficiency scale? Definition and explanation. | Economies of scale, Efficiency, Basic concepts
If a firm is at the efficient scale of output, it means that the quantity of output is such that it A) maximizes marginal product. B) maximizes profit. C) minimizes average total
What is Minimum efficiency scale? Definition and explanation. | Economies of scale, Efficiency, Basic concepts
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