Production of a Small Quantity of an Input Is Often

question 48

Multiple Choice

Production of a small quantity of an input is often _______as firms typically _______able to enjoy economies of scale.

• A)unprofitable; are not
• B)profitable; are
• C)unprofitable; are
• D)profitable; are not

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Definitions:

Title

A formal right of ownership of property, which signifies the owner's legal possession and control.

Final Payment

The last payment in a series that settles a debt or completes a purchase agreement.

Purchaser

The individual or entity that buys goods or services, also known as a buyer.

Payment

The transfer of money, goods, or services in exchange for goods, services, or both, as part of a transaction.