External Economies of Scale Occur When Costs Go Down as an Industry

question 52

True/False

External economies of scale occur when costs go down as an industry expands.

Solve basic and complex proportion problems.

Interpret and analyze sales data and other business-related figures through percentages and ratios.

Apply understanding of ratios and proportions to various real-life business and economics contexts including partnership and investment scenarios.

Calculate the impact of financial changes and investments over time considering ratios.

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Definitions:

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.

Breach

The violation or non-fulfillment of a legal agreement, duty, or contract.

Identified Goods

Goods that are designated for a specific sale or contract, making them distinguishable from the seller's or manufacturer's other goods.

Remedy

A means of legal reparation or correction provided to a party who has suffered a loss or injury.