Economies of scale:
Exist when larger firms can produce at lower cost than smaller
firms.
Exist when Average...
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Economics
Economies of scale:
Exist when larger firms can produce at lower cost than smallerfirms.
Exist when Average costs go down as production increases
Are more likely to exist in industries with larger fixedcosts
All of the above
True or false. Monopolies are always a bad way to deliver goodsand services.
An industry that has a few large firms that own a majority ofthe market share is called
A monopoly
An oligopoly
A monopolistic competition
Perfectly competitive
An attribute of destructive competition is:
Firms earn 0 profit
Quality tends to suffer
Firms are forced out of the industry
All of the above
Answer & Explanation
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4.4 Ratings (875 Votes)
1 Economies of scale refer to the cost advantages by a firm when production becomes efficient A firm can achieve economies of scale by increasing production and lowering costs Thus Economies of scale
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