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.
\(\begin{array}{c|c} \text{Unit of output} & \text{Table cost}\\ \hline 1 & 20 \\ 2 &...
The ordinalist approach of utility postulated that utility can be ...
Palm oil and palm kernel are in? ...
Which of the following is part of the capital account of the balance of payments? ...
The standard of living in two countries can be compared using the__________ ...
The equilibrium wage in an economy is determined by the ...
General rise in the price level induced by increased price of inputs is referred to as ...