The "Unit Cost Curve" Declines with Output Until a Certain

question 108

True/False

The "unit cost curve" declines with output until a certain output level is reached,at which point further increases in output realize huge reduction in unit costs.

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Definitions:

Local Industries

Businesses and manufacturing operations that are based within a specific geographic area and often cater to the economic needs of the local population.

Market Development

The expansion of a market through the identification and penetration of new market segments or geographic areas.

Microfinance

A type of financial service provided to unemployed or low-income individuals or groups who otherwise lack access to traditional banking services.

Collateral

An asset that a borrower offers to a lender as a security for a loan, which can be seized if the loan is not repaid.