Imagine Scale Economies Were Not Only External to Firms, but Were

question 4

Essay

Imagine scale economies were not only external to firms, but were also external to individual countries. That is, the larger the worldwide industry (regardless of where firms or plants are located), the cheaper would be the per-unit cost of production. Describe what world trade would look like in this case.

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Quantitative Approaches

Analytical methodologies that utilize mathematical, statistical, or computational techniques to examine variables and relationships within data sets.

Universal Principles

Fundamental ethics or values that are widely accepted and applied across different cultures and contexts.

People's Feelings

Refers to the emotions and sentiments experienced by individuals, which can influence behavior, decision-making, and interpersonal relationships.

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