That's what is described by your phrase "the cheapest and most efficient producer."

Among the causes for optimism, most companies in the business are efficient producers, he said.

The structure of the market or the production process might make a single producer most efficient - this is called a natural monopoly.

These are the big, efficient producers who need less protection against price cuts.

And the pressing need to make America a more efficient producer has heightened interest in the plant.

At that level, efficient producers should continue to make a lot of money, he said.

The simple solution, of letting markets weed out the least efficient producers, is not even being considered.

About the people on earth being such efficient producers of food because our population is so large and still growing?

The price the Russians get now, he said, is far below cost for even the most efficient producer.

Altogether, it is a tough environment for even the most efficient producers.