Which economic concept explains why a large drugstore chain can produce at a lower average cost than Whoville Pharmacy, an individually owned drugstore?
a. increasing marginal returns
b. diminishing marginal returns
c. economies of scale
d. diseconomies of scale
e. constant returns to scale
Question 2
Economies of scale occur where
a. long-run average cost falls as new firms enter the industry
b. short-run average cost falls as new firms enter the industry
c. long-run average cost falls as one firm expands plant size
d. short-run average cost falls as one firm expands plant size
e. long-run average cost rises as one firm expands plant size
Large male reindeer
Vacuoles in Plant Cells Are Usually Large
Average Global Temperature during the Phanerozoic
Cost Savings with an EHR System
A very thin uniform rod, 2.40 m long and of weight 135 N, has a frictionless hinge at its lower ...
economic question