6. Suppose that just by doubling the amount of output that it produces each year, a firms...
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6. Suppose that just by doubling the amount of output that it produces each year, a firm’s per-unit production costs fall by 30 percent. This is an example of: LO8.4
a. Economies of scale.
b. Improved resource allocation.
c. Technological advance.
d. The demand factor.
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Related Book For
Macroeconomics
ISBN: 9781259915673
21st Edition
Authors: Campbell McConnell, Stanley Brue , Sean Flynn
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