A feature of imperfect competition is _________, which means
That as the firm expands its production, average costs of
Production fall.Therefore, the firm can _______ its costs of
Production by selling internationally.
A)economies of scale; decrease
B)economies of scale; increase
C)increasing returns to scale; decrease
D)specialization; increase

Question

Quizplus · Accepted Answer

Imperfect competition is characterized by economies of scale where as the firm expands its production, the average costs of production fall. Therefore, the firm can decrease its costs of production by selling internationally.

A Feature of Imperfect Competition Is _________, Which Means