When It Is Cheaper for One Firm to Produce a Number

question 61

Multiple Choice

When it is cheaper for one firm to produce a number of different commodities together than it is for a group of small firms to produce those commodities, ____ exist(s) .

• A)economies of scale
• B)economies of scope
• C)diminishing marginal returns
• D)marginal cost pricing

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Definitions:

Hidden Curriculum

The implicit lessons, values, and perspectives that students learn in school beyond the formal content of the curriculum.

Scholastic Learning

Education or learning that is based on the academic principles of scholarship.

Conformity Curriculum

An educational approach designed to ensure students adhere to established norms and standards.

George Herbert Mead

A pioneering sociologist and philosopher known for his work in social psychology and the development of symbolic interactionism.