Economies of Scale

question 20

Multiple Choice

Economies of scale:

• A)is the same thing as increasing returns to scale.
• B)exist if a firm increases its output more than in proportion to its total input cost.
• C)exist if a firm increases its output precisely proportional to its total input cost.
• D)refers to the ability to make large-scale investments in capital.

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Definitions:

Most Urban Region

An area characterized by high population density and vast human settlements, typically with significant infrastructure and development.

Late Nineteenth Century

The period from 1871 to 1900, characterized by significant industrial, political, and social changes in many countries.

Service Industry Jobs

Employment opportunities within sectors that provide services instead of goods, such as hospitality, banking, and health care.

Chinese Men

This phrase might refer to male individuals of Chinese nationality or ethnic heritage, but without further context, it lacks specificity for a precise definition.