Hi, I am looking for someone to write an article on principles of economics continuous assessment Paper must be at least 1750 words. Please, no plagiarized work! The minimum efficient scale comprises a range of output levels. It is where the constant returns to scale are realized. Furthermore, the cost of producing a unit of a service or a product is at its lowest. The minimum efficiency scale in a particular industry depends on the nature of the costs of production. A firm that has a high ratio of fixed to variable costs has the ability to reduce average cost through the increased scale of output. This can result in a concentrated market structure.
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