Solved

Suppose Toyota Produces 100, 000 Cars Per Year at Its

Question 189

Multiple Choice

Suppose Toyota produces 100, 000 cars per year at its California plant at an average cost of $6, 000 and it doubles output and total costs by building an identical plant in Kentucky.Toyota has exhibited


A) diminishing marginal returns
B) economies of scale
C) constant average costs
D) an upward-sloping planning curve
E) production inefficiency

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents