If Production Is Subject to Economies of Scale,_____

question 121

Multiple Choice

If production is subject to economies of scale,_____.

• A)countries can gain from trade if each nation specializes
• B)the domestic price will be above the world price and the quantity produced will be below the free trade level
• C)higher output levels result in higher average production costs
• D)every consumer gets to buy goods at their market-clearing prices
• E)autarky will be preferred to trade

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Definitions:

Walker

A type of mobility device, useful for patients who cannot safely use crutches or a cane.

Leaning Slightly

The act of inclining or tilting marginally from a vertical position.

Walkers

Assistive devices used to aid mobility, typically consisting of a frame with handles and legs, which a person can lean on and push forward to move.

Commonly Available

Items or services that are easily obtainable in most places, often due to widespread demand or production.