Economies of Scale Can Result from

question 18

Multiple Choice

Economies of scale can result from

• A)larger machines.
• B)specialization.
• C)large purchases.
• D)all of these choices.

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Definitions:

World Market

The global exchange of goods, services, and finances, encompassing international trade and investment flows.

Cartel Price

The price level set by a cartel, where members agree to control supply to maximize their profits.

Production Declines

A reduction in the quantity of goods and services produced, often due to factors such as decreased demand or disruptions in supply chains.

Cartel Members

Entities that agree to work together to control prices and market shares within an industry, inhibiting competition.