Economies of scale can be caused by
a. all of the following
b. short-run increases in marginal productivity
c. the use of larger, more specialized machines
d. higher information costs as a firm expands
e. bureaucratic red tape as a firm expands
C
You might also like to view...
Refer to Table 2-14. Does either Ireland or Scotland have an absolute advantage and if so, in what product?
A) Scotland only has an absolute advantage in producing guitars. B) Ireland only has an absolute advantage in producing motorcycles. C) Ireland only has an absolute advantage in producing guitars. D) Scotland has an absolute advantage in producing both products.
If nominal GDP in 2012 was less than real GDP in 2012, we know for certain that
A) the price level in 2012 was greater than the price level in the base year. B) real GDP in 2012 was greater than real GDP in the base year. C) the price level in 2012 was less than the price level in the base year. D) real GDP in 2012 was less than real GDP in the base year.