Early developers within a given industry benefit from economies of scale, in that they are able to
a. produce larger volumes at a lower cost.
b. shape the product based on what the consumer wants.
c. avoid competition by creating a monopoly.
d. start big instead of having to start small.
a. produce larger volumes at a lower cost.
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According to the law of one price
A) a company can only charge one price for a product, no matter which nation the product is sold in. B) interest rates across nations should be the same when adjusted for exchange rates. C) goods that are easily tradable across nations should sell for the same price expressed in a common currency. D) the price of gold should differ between nations.
A joining of two or more businesses that are involved in different stages of producing the same good or service:
a. vertical merger b. horizontal merger c. cooperative d. conglomerate