Imagine Scale Economies Were Not Only External to Firms, but Were

question 4

Essay

Imagine scale economies were not only external to firms, but were also external to individual countries. That is, the larger the worldwide industry (regardless of where firms or plants are located), the cheaper would be the per-unit cost of production. Describe what world trade would look like in this case.

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Definitions:

Anniversary Dates

Specific dates that mark the yearly recurrence of significant events, such as weddings, company founding, or personal achievements.

Group Rates

Discounted pricing offered to members of a group when purchasing goods or services together, commonly found in hotel bookings or event tickets.

Flexible Benefit Plan

A Flexible Benefit Plan allows employees to choose from a range of benefits to create a package that best suits their personal needs and circumstances.

Topping Out

A construction industry term referring to the tradition of placing a tree or flag on top of a building when the last beam is installed.