Producing a standardized product in large volumes will
A) result in diseconomies of scale.
B) increase production efficiency.
C) increase production costs.
D) result in shorter production runs.
E) result in a high minimum efficient scale of output.

Question

Quizplus · Accepted Answer

Producing a standardized product in large volumes will increase production efficiency because it allows for specialization of labor, the use of specialized machinery, and the ability to purchase inputs in bulk.

Producing a Standardized Product in Large Volumes Will