External economies refer to:
A) cost advantages arising from locating a firm near important resources, such as skilled workers, capital resources, or required raw materials.
B) cost advantages arising from specializing in producing and trading items in which a nation has a comparative advantage.
C) cost advantages arising from specializing in producing and trading items in which a nation has an absolute advantage.
D) cost advantages arising from expanding production via trade to reach a firm-s minimum efficient scale.
Correct Answer:
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Q1: Long-run average cost is defined as the
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Q3: The establishment of a foreign subsidiary of
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Q5: Agglomeration refers to:
A) a consumer-s choice to
Q7: In principle, a tendency for firms to
Q8: An industry concentration ratio is the:
A) sum
Q9: The relevant market is:
A) defined by the
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