Final answer:
Both the efficient price and output would be lower than the given values.
Step-by-step explanation:
The efficient price would be less than the $12, while the output would be less than 100 units. In the given example, different production plants have different average costs of production per toaster oven.
Plant M can produce toaster ovens more cheaply than plant S due to economies of scale. Similarly, plants L or V can produce more cheaply than S or M. However, the economies of scale end at an output level of 150. Therefore, it can be inferred that both the efficient price and output would be lower than the given values.