When a Firm Experiences Improvements in Efficiency as It Incrementally

question 64

Multiple Choice

When a firm experiences improvements in efficiency as it incrementally increases its size, the firm is said to have created which of the following barriers to entry?

• A) economies of switching
• B) economies of scope
• C) economies of scale
• D) economies of distribution

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Definitions:

Realistic Goals

Objectives set that are achievable and based on practical considerations of actual conditions.

Responsibility

The obligation to carry out assigned tasks, make decisions, and bear the consequences of actions.

Procrastination

The action of delaying or postponing tasks, often out of habitual carelessness or laziness, leading to stress, anxiety, and potentially poor performance.

Substance

The fundamental or essential component of something that gives it its character and identity.