1. This term is used to describe long-run average cost that RISES with increases

Question

1. This term is used to describe long-run average cost that RISES with increases in firm size a.) economies of scale b.) economies of scope c.) increasing returns to scale d.) diseconomies of scale 2. Which of the following statement is/are consistent with an industry that exhibits constant returns to scale? a.) the industry might be populated by firms of many different sizes b.) firms in the industry probably use labor-intensive production technologies c.) entry (by new firms) into the industry is easier than entry into industries characterized by economies of scale d.) all of the above

Explanation / Answer

d)all the above

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.