When ________ Scale of Production Leads to ________ Average Costs

question 337

Multiple Choice

When ________ scale of production leads to ________ average costs, an industry exhibits decreasing returns to scale.

• A) decreased; higher
• B) increased; unchanging
• C) increased; higher
• D) increased; lower

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Definitions:

Marks & Spencer

A major British multinational retailer that specializes in selling clothing, home products, and food items, known for its commitment to quality and sustainability.

Place Utility

The value added to products by having them available at a location where they are needed or desired by consumers.

Place Utility

The value added to products by having them in a location where they are needed or desired by consumers.