If Production Is Characterized by Increasing Returns to Scale,then

question 7

Multiple Choice

If production is characterized by increasing returns to scale,then

• A) the economy is self-sufficient and will not engage in foreign trade
• B) intra-industry trade is likely to occur
• C) the nation is more likely to be a net importer than a net exporter
• D) the production possibilities set is limitless
• E) smaller production runs are more economical than large ones

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