Economies of scale are
A) charges to savers and borrowers imposed by banks in exchange for reducing transactions costs.
B) the reduction in costs per unit that accompanies an increase in volume.
C) decreases in transactions costs that occur as information costs increase.
D) decreases in information costs that occur as transactions costs increase.
B
Economics
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Jenny Magalnick is a medical researcher at the National Institutes of Health. She produces a(n)
a. transfer b. entitlement c. public good d. merit good e. government good
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Society gains from a patent if the product would not otherwise be developed.
Answer the following statement true (T) or false (F)
Economics