Final answer:
An attainable standard is a realistic production standard under normal working conditions and contrasts with ideal or past experience standards. It is essential when considering production technology costs and the optimal scale of production.
Step-by-step explanation:
A standard cost or production standard that is achievable under actual operating conditions is known as an attainable standard. This type of standard considers achievable and appropriate goals that are realistic under normal working conditions, taking into account the necessary planning required to achieve them. An attainable standard is contrasted with other types of standards such as an ideal standard, which assumes perfect conditions, or a past experience standard, which is based solely on historical data. Understanding the difference between these types of standards is important when a firm is determining the least costly production technology and considering the optimal scale of production. Economies of scale are a critical concept in this context, as they refer to the reduction in per-unit cost as output increases, reinforcing the value of setting attainable standards.