A small scale firm located within an industrial estate wi...
A small scale firm located within an industrial estate will enjoy
Government protection and funding
Technological economies of scale
Financial economies of scale
External economies of scale
Correct answer is D
A small scale firm located within an industrial estate will enjoy external economies of scale. This is because the firm will be able to benefit from the shared infrastructure and services that are available in the industrial estate.
External economies of scale are cost savings that are enjoyed by firms as a result of the growth of the industry as a whole. These savings can be realized through the sharing of infrastructure, such as roads, water, and electricity, and the pooling of resources, such as research and development.
In addition, the firm may also be able to benefit from the clustering of firms in the industrial estate. This clustering can lead to increased competition, which can drive down prices and improve the quality of products and services.
A rational consumer tends to do all the following except ...
Guided deregulation as currently practised in Nigeria implies that ...
When the total products is at its maximum, marginal products is ...
The concept of economics efficiency primarily implies ...
In the long run, all production factors are? ...
Agriculture is important to the economy of West African countries because it is the source of ...
Small scale enterprises are important in a country because ...