The main sources of economies of scale are
A) increasing marginal cost and decreasing marginal product.
B) specialization of resources such as labor and capital.
C) caused by the difficulty of coordinating and controlling large enterprises.
D) decreasing marginal cost and increasing marginal product.
E) an increase in a firm's bargaining power to lower the wage rate and the cost of capital as the firm's output increases.
B
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Which of the following are equilibrium conditions in the simple Keynesian model?
a. Ir = I b. G = T c. S + T = I + G d. Y = C + I + G e. A, c, and d
How does the treatment of international transactions differ with respect to gross national product and gross domestic product? Explain. Why do you think that the U.S government has switched from using GNP to using GDP
What will be an ideal response?