"When the cost of producing a unit of a good falls as its output rate increases" is the definition of
A) economies of scope.
B) economies of scale.
C) economic efficiency.
D) technological efficiency.
B
Economics
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The smaller the price elasticity of demand, the
a. more likely the product is a luxury. b. smaller the responsiveness of quantity demanded to a change in price. c. more substitutes the product has. d. greater the responsiveness of quantity demanded to a change in price.
Economics
M1 money includes all but which one of the following?
A. checkable deposits B. savings accounts C. paper money D. coins
Economics