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Minimum efficient scale (MES) is a term used in industrial organization to denote the smallest output that a plant (or firm) can produce such that its long run average costs are minimized. This concept is useful in determining the likely market structure of a market. For instance, if the minimum efficient scale is small relative to the overall size of the market (demand for the good), there will be a large number of firms. The firms in this market will be likely to behave in a perfectly competitive manor due to the large number of competitors.

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Can you come up with some illustrations of business risk measurement where bell curve type analysis is inappropriate?

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What is economy syllable?

The word economy has four syllables. The syllables are e-CON-o-my. The stress is on the second syllable.


How does economic interdependence affect productivity?

O

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