All of the Following Are Reasons Why Firms Have Different

question 45

Multiple Choice

All of the following are reasons why firms have different production costs except ________.

• A) economies of scale
• B) learning
• C) product design
• D) scope of involvement

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Definitions:

Ratification

The formal approval of an agreement or treaty by authoritative body, making it officially valid.

Writing

The process of using symbols, such as letters and characters, to communicate thoughts and ideas in a readable form.

Unlimited Liability

A legal status where business owners are personally responsible for all the debts and liabilities of the business.

Sole Proprietors

Individuals who own and operate their businesses alone, assuming complete control and responsibility for all financial aspects.