Economies of scale result as a firm increases in size and expands its use of resources. Productivity increases and fixed production costs are spread over an increased number of goods and services
Which of the following are types of economies of scale? (a) Command economies
(b) External economies
(c) Open economies
(d) Closed economies
(b)
Economics
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All of the following will cause the reported growth rate in a country to change EXCEPT
A) changes in productivity. B) population changes. C) a shift of the production possibilities curve. D) changes in the number of poor people in the country.
Economics
What is the loanable funds market? What happens if the real interest rate in the market is held above the equilibrium interest rate?
What will be an ideal response?
Economics