If There Are Significant Economies of Scale in an Industry

question 27

Multiple Choice

If there are significant economies of scale in an industry, then

• A) a firm that is large may be able to produce at a lower unit cost than can a small firm.
• B) a firm that is large will have to charge a higher price than will a small firm.
• C) entry to that industry will be easy.
• D) firms must differentiate their products to earn economic profits.

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