Author Question: After 2 years of operation, the workers in XYZ Co become more adept because of their repeating work. ... (Read 7 times)

Lobcity · **on:** Jul 1, 2018

After 2 years of operation, the workers in XYZ Co become more adept because of their repeating work. As a result, the average cost of production is lowered due to

A) economies of scale.
B) increasing returns to scale.
C) increasing marginal returns.
D) learning by doing.

Question 2

The situation in which one firm can produce the total output of the market at lower cost than several firms is called

A) natural monopoly.
B) pure monopoly.
C) ruling monopoly.
D) cost monopoly.