External economies refers to
A) an increase in inputs that leads to a more than proportional increase in outputs.
B) a reduction in the average cost of production as the firm expands.
C) a reduction in firm's average cost of production as the industry expands.
D) a reduction in the world cost of production as international trade increases.
Correct Answer:
Verified
Q3: Which of the following statements is not
Q5: A developed and developing nation are most
Q6: Two developed nations are most likely to
Q6: Which of the following assumptions of the
Q7: When a nation has increasing returns to
Q8: If a nation exports twice as much
Q9: Increasing returns to scale means that
A) doubling
Q10: The share of transport costs will fall
Q10: Outsourcing refers to
A) the purchase of parts
Q11: Trade based on technological gaps is closely
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