
If an industry is characterized by economies of scale:
A) barriers to entry are usually not very large.
B) long-run average costs of production increase as the quantity the firm produces increases.
C) capital requirements are small due to the efficiency of the large-scale operations.
D) the costs of entry into the market are likely to be substantial.
Correct Answer:
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Q8: Which of the following statements is correct?
A)The
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