With Economies of Scale, Specialization in a Few Products Allows

question 35

True/False

With economies of scale, specialization in a few products allows a manufacturer to benefit from longer production runs, which lead to decreasing average cost.

---

Definitions:

Unemployed

The state of being without a paid job despite actively looking for work.

1950s

A decade marked by post-World War II recovery, economic growth, and significant social and cultural changes, including the beginning of the Civil Rights Movement in the United States.

Economics Definition

The study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

Equilibrium

A market phase where demand is matched by supply, which in turn stabilizes prices.