A firm enjoying economies of scale is said to be
...A firm enjoying economies of scale is said to be
Reducing average cost as production increases
Benefiting from the activities of other firms
Maximizing profits as production increases
Having an upward-sloping average cost curve
Correct answer is A
As long as the Long run average cost curve is declining, then internal economies of scale are being exploited. If LRAC is falling when output is increasing, then the firm is experiencing economies of scale.
The following are advantages of large scale agriculture except ...
The tax levied on locally produced goods is ...
Which of the following is NOT illustrated by the production possibility curve? ...
A firm's compulsory cost whether it is in production or not, is referred to as its ...
One of the fundamental differences between a capitalist and a socialist economy is that while ...
To control inflation, the central bank of a country may adopt ...
The demand curve would shift to the left when there is a rise in ...