You read a story in the newspaper about the "economies of mass production." This means that
A)total cost is less at larger levels of production.
B)long-run average cost is less at larger levels of production.
C)marginal cost is less at larger levels of production.
D)fixed cost is less at larger levels of production.

Question

Quizplus · Accepted Answer

Economies of mass production refer to the concept that the long-run average cost decreases as the level of production increases due to factors such as specialized labor, efficient use of machinery, and bargaining power with suppliers. This leads to a lower average cost per unit produced, which can lead to higher profits or lower prices for consumers.

You Read a Story in the Newspaper About the "Economies