The most efficient scale of production of a firm is where ........

Economics- Phase (I & II) Consumption Function

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The most efficient scale of production of a firm is where

LAC is minimum

SAC is minimum

LMC is minimum

SMC is minimum

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Explanation:

The most efficient scale of production of a firm is where LAC is minimum. LAC at the efficient scale of production is thus the minimum average cost. Long Run Average Cost (LAC) Curve. Long run is that time period when a firm can change all its inputs