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The US Textile Industry Is Relatively Small Because the United States

question 95

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The U.S. textile industry is relatively small because the United States imports most of its clothing. A clear result of the importation of clothing is that:


Definitions:

Product Transformation Curve

Curve showing the various combinations of two different outputs (products) that can be produced with a given set of inputs.

Diseconomies of Scope

A situation where the cost per unit increases as a company produces more types of products or services.

Economies of Scope

Cost advantages that enterprises obtain due to efficient utilization of resources across multiple products or services.

Myelencephalon

Most caudal portion of the embryonic brain; also called medulla oblongata.

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