The Main Sources of Economies of Scale Are

question 73

Multiple Choice

The main sources of economies of scale are

• A) increasing marginal cost and decreasing marginal product.
• B) specialization of resources such as labor and capital.
• C) caused by the difficulty of coordinating and controlling large enterprises.
• D) decreasing marginal cost and increasing marginal product.
• E) an increase in a firm's bargaining power to lower the wage rate and the cost of capital as the firm's output increases.

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Definitions:

Wilcoxon Signed Rank Sum Test

A statistical test that doesn't rely on parameters to compare two matched groups, aiming to determine if there is a difference in their population mean ranks.

Normal Approximation

A technique in statistics where a binomial distribution is approximated using a normal distribution, applicable under certain conditions, such as a large sample size.

F-distribution

A probability distribution used in analysis of variance (ANOVA), especially relevant when comparing variances across different samples.

Kruskal-Wallis Test

A non-parametric statistical test that compares three or more independent samples to determine if at least one sample distribution stochastically dominates one other sample.