If an Industry Is Characterized by Economies of Scale

question 20

Multiple Choice

If an industry is characterized by economies of scale:

• A)barriers to entry are usually not very large.
• B)long-run average costs of production increase as the quantity the firm produces increases.
• C)capital requirements are small due to the efficiency of the large-scale operations.
• D)the costs of entry into the market are likely to be substantial.

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