Some Goods Can Be Produced at Low Cost Only If

question 247

Multiple Choice

Some goods can be produced at low cost only if they are produced in large quantities.This phenomenon is called

• A)marginal cost of production.
• B)marginal benefit of size.
• C)economies of scale.
• D)economies of production.

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Definitions:

Per Capita Water Consumption

The average amount of water used per person within a specified area or community, typically measured over a given period.

Gallons Per Day

A measure of flow rate used to quantify volumes of liquid (such as water or fuel) moved or used within a 24-hour period.

U.S. Per Capita Consumption

The average amount of goods and services consumed per person within the United States over a specified period.

Energy

The capacity to do work or produce power, manifested in various forms such as heat, light, motion, and chemical energy.