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

question 39

Multiple Choice

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

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

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Definitions:

Amendments

Changes or additions made to a document, legislation, contract, or constitution, typically involving formal procedures for approval and implementation.

U.S. Constitution

The foundational document of the United States that delineates the national frame of government, its institutions, and the rights of its citizens.

Insider Trading

Trading in the stock of a publicly listed corporation based on inside information. One who possesses inside information and has a duty not to disclose it to outsiders may not profit from the purchase or sale of securities based on that information until the information is available to the public.

Publicly Listed

A company whose shares are traded openly on a stock exchange.