The lowest level of output at which the long-run average total cost is minimized is called minimum scale

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The lowest level of output at which the long-run average total cost is minimized is called minimum scale
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Yes, you are correct. The minimum efficient scale (MES) is the point on a cost curve where a company can produce its product at the lowest possible cost per unit. This occurs where the firm's long-run average total cost (LRATC) is at its minimum. At this point, the firm is achieving economies of sca Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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