11.   It is also necessary for the firm to be operating at above minimum efficiency scale, the low point of the average cost curve.

12.   This is determined by the gradient of the average cost curve, and by the degree to which plants are operating at less than MES.

13.   The figure shows that the cost disadvantage of operating at half MES depends upon the gradient of the average cost curve.

14.   Starting a cosmetics company is cash-intensive, with a steep cost curve to climb in the beginning.

15.   The plant, he says, will be at the bottom of the world cost curve.