In an Industry Where Firms Experience Internal Scale Economies,the Long-Run

question 24

Multiple Choice

In an industry where firms experience internal scale economies,the long-run cost of production will depend on

• A) the size of the market.
• B) the size of the labor force.
• C) whether the country engages in intra-industry trade.
• D) individual firms' fixed costs.
• E) whether the country engages in inter-industry trade.

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Definitions:

Specific Behaviors

Actions or reactions of an individual in response to external or internal stimuli, which can be observed and measured.

Aggregated Behaviors

The sum or collection of individual actions or responses observed over a period of time, providing insights into overall patterns or trends.

Accurate

Correct in all details; exact.

Variables

Elements or factors that can change and affect the outcomes of scientific research or experiments, including independent, dependent, and control variables.