Economies of Scale Exist Where Proportionate Increases in the Amount

question 19

True/False

Economies of scale exist where proportionate increases in the amount of inputs employed in a production process result in lower average unit costs

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Definitions:

Grams

A unit of mass equal to one thousandth of a kilogram in the metric system, commonly used for measuring small quantities of material.

Centimeters

A unit of length in the metric system, equal to one hundredth of a meter.

Inches

A unit of length in the Imperial and US customary systems, equal to 1/12 of a foot.

Yards

A unit of measurement equal to 3 feet or 0.9144 meters.