Author Question: If there are economies of scale throughout the relevant output range of production, which is false? ... (Read 26 times)

rl · **on:** Jun 30, 2018

If there are economies of scale throughout the relevant output range of production, which is false?
a. It is a natural monopoly.
b. It is more efficient to have a single firm produce the good.
c. It would typically result from a firm's possession of an exclusive patent.
d. One large firm can produce at lower cost than two or more smaller firms.

Question 2

Government standards for products sold in the domestic market can have the effect of protecting domestic producers from foreign competition.
a. True
b. False
Indicate whether the statement is true or false