How large a firm becomes is determined by
A) the demand for its product.
B) the availability of economies of scale.
C) the availability of economies of scope.
D) the availability of specialized managers.
Correct Answer:
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Q28: In a sense, the long-run average cost
Q29: If services are purchased from others that
Q30: If a firm is experiencing economies of
Q31: If unit costs decrease as the quantity
Q32: If a firm is experiencing diseconomies of
Q34: A U-shaped long-run average cost curve indicates
Q35: In the case where a firm gains
Q36: Economies of scale are often confused with
A)market
Q37: In the long run, a firm can
Q38: Economies of scale can result from
A)larger machines.
B)specialization.
C)large
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