not by the first firms to acquire technologically sophisticated plants of theoretically optimal size排除了A
BCD可快速排除，选C

Such industries are quickly dominated, not by the first firms to acquire technologically sophisticated plants of theoretically optimal size, but rather by the first to exploit the full potential of such plants在这里.exploit＝operate

定位Such industries are quickly dominated, not by the first firms to acquire technologically sophisticated plants of theoretically optimal size, but rather by the first to exploit the full potential of such plants.

economies of scale是目标
costs是表现
minimum efficient scale是手段

第二段就是详述intangible capital的重要性，具体通过提升intangible capital逼近minimum efficient scale并实现economies of scale的手段是“by the first to exploit the full potential of such plants”，整合一下就是这道题的选项“be one of the first to operate its manufacturing plants at minimum efficient scale”。余下的部分，通过叙述Challengers进入市场之艰难，侧面描写be the first...的重要性，及及时提升intangible capital的重要性。

逻辑链就是economies of scale和costs挂钩，costs被efficient scale决定，最好达到minimum efficient scale，但是minimum efficient scale理论上达不到，因为efficient scale被throughput决定，throughput一旦落入critical point之下，costs 飙升（那当然就没有economies of scale了，根本目的还是economies of scale，达到minimum efficient scale只是中间手段）总结是economies of scale包含两部分，potential被 tangible capital决定，realized 被intangible capital决定。总结句呼应首句——想达到economies of scale不能光修建大厂房（tangible capital），潜台词就是还需要intangible capital。

制造商想实现economies of scale，不仅需要建大工厂。costs per unit of output确实随着工厂规模逼近minimum efficient scale而下降（在minimum efficient scale这个节点上，cost per unit of output 达到最小）。 However转话题，minimum efficient scale不可能真正被实现，除非处于稳定的throughput。throughput又要求production process，suppliers，wholesalers/final consumers三者间的配合. 如果throughput落入critical point,之下，unit costs 飙升，profit消失。制造商的fixed costs 和 sunk costs不会因产量下降而减少. 总结：potential economies of scale 是被 tangible capital决定，realized economies of scale 是被intangible capital决定

It is true that as the capacity of a manufacturing operation rises, costs per unit of output fall as plant size approaches "minimum efficient scale,"
此处已将realize economies of scale的概念细化为“approach minimum efficient scale”
即approach minimum efficient scale=realize economies of scale
题目中该公司拥有高超的intangible capital水平，带来realized economies of scale，即等于带来minimum efficient scale

but rather by the first to exploit the full potential of such plants.就是达到最小有效规模

本文论点：｛生产能力上升，达到最小有效规模后，生产成本会下降｝企业在技术进步和（产品通过市场程序）｛潜力市场的规模｝的（前提下）决定的，（只有达到最小的有效规模，他的利润才能最大化）｛最小有效规模的获得需要throughout满足三点｝。解释论点：最小的有效规模是由三点决定的，一通过生产｛程序的货物流｝，二是有｛由供应商提供的输入流｝供应商，三是。。｛输出给零售商和消费者的输出流｝。｛这里解释了固定成本和原始投资成本不会随着因为原材料不足，工厂地面或不足的销售网络而导致的生产下降而降低。因此，（论点）有潜力的经济规模取决于生产设备的机械性，也就是在有形资产上；而已经被意识到的经济规模依赖于人的知识，技术，经验，也就是人类的能力，或无形资产；}

{论点：当人们看到资金集约型生产工厂企业后就会了解到投资不动资产的重要性。解释论点：这些工厂通过开发市场潜力，是市场非常难进入。做法：第一步是解决供应商和生产程序，然后建立分销网络和市场程序，然后雇佣管理团队和战略团队}

本篇主要在讲如何规模经济 达到最小有效规模minimum efficient scale
主要靠有形资产和无形资产 而无形资产中制造商要去发挥工厂的潜力 目的是主旨-达到最小有效规模
exploit the full potential = ecomomies of scale = minimum efficient scale

定位第一段costs per unit of output fall as plant size approaches "minimum efficient scale," &第二段but rather by the first to exploit the full potential of such plants.

这里的minimum efficient scale与economies of scale可以等价

首先可排除ADE，BC中B比较片面。B只说降低沉没成本，但C降低的是全部成本。同样也可认为开发企业最大潜能等同于将其成本降至最低，即达到最小有小规模。

capital-intensive industry定位到第二段

定位Such industries are quickly dominated, not by the first firms to acquire technologically sophisticated plants of theoretically optimal size, but rather by the first to exploit the full potential of such plants.

请问'minimum efficient scale'和‘exploit full potential’有什么关系

定位词 intensive-capital industry

错选E，细节2，第一段末和第二段前两句话联合推导