Suppose that just by doubling the amount of output that it produces each year, a firms per-unit
Question:
Suppose that just by doubling the amount of output that it produces each year, a firm’s per-unit production costs fall by 30 percent. This result is an example of:
a. economies of scale.
b. improved resource allocation.
c. technological advance.
d. the demand factor.
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Related Book For
Macroeconomics
ISBN: 9781264112456
22nd Edition
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
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