Sources of external economies of scale include
A. larger firm size that results in volume discounts.
B. larger industry size that `results in lower production costs.
C. larger plant size that allows the plant to take advantage of technology.
D. All of the above are correct.
Answer: B
Economics
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The Laffer curve illustrates that
A) high tax rates could lead to lower tax revenues if economic activity is severely discouraged. B) lowering tax rates will always decrease tax revenues. C) lowering tax rates will always increase tax revenues. D) high tax rates would increase tax revenue and increase the labor supply as people work harder to maintain their standard of living.
Economics
Use the idea of external costs to explain why some cities have laws against late-night rock concerts
What will be an ideal response?
Economics