All these factors can lead to economies of scale in production, except:
a. division of labor that helps in specialization.
b. merger of two firms.
c. hiring larger machines which are more efficient than the smaller ones.
d. increase in overhead expenses.
e. research and development.
d
Economics
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Interest is ultimately
A) any return on investment. B) the price of money. C) unearned income. D) the difference between the subjective value of a good now and a good later.
Economics
The situation in which one firm can produce the total output of the market at lower cost than several firms is called a
A) natural monopoly. B) pure monopoly. C) ruling monopoly. D) cost monopoly.
Economics