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Author Question: After 2 years of operation, the workers in XYZ Co become more adept because of their repeating work. ... (Read 33 times)

Lobcity

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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.


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meganlapinski

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


Lobcity

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

bdobbins

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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