Ringle Company is a manufacturer of compact disks (CDs). Place each of the following costs in the appropriate column.
Definitions:
External Economies of Scale
Cost advantages that a firm obtains due to the expansion of the industry in which it operates, but not due to its own expansion.
Industry Size
A measure of the total production or the total number of participants in a particular industry or market.
Short-Run Losses
Temporary financial deficits that a firm may face due to operating costs exceeding total revenue in the short term.
Zero Economic Profit
A situation where a firm's total revenue is exactly equal to its total costs, including both explicit and implicit costs.
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