External Economies Refers to

question 13

Multiple Choice

External economies refers to

• A) an increase in inputs that leads to a more than proportional increase in outputs.
• B) a reduction in the average cost of production as the firm expands.
• C) a reduction in firm's average cost of production as the industry expands.
• D) a reduction in the world cost of production as international trade increases.

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Definitions:

Pulmonary Veins

Blood vessels that transport oxygenated blood from the lungs to the left atrium of the heart.

Pulmonary Artery

One of the arteries that extend from the pulmonary trunk to the right or left lungs.

Respiratory Membrane

The structure in the lungs where gas exchange between the air and blood takes place, consisting of alveolar and capillary walls.

Tuberculosis

An infectious disease caused by the bacterium Mycobacterium tuberculosis, primarily affecting the lungs but can spread to other organs.