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QUESTION:

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Multiple Choice Question

Economies of Blank are the savings that come from producing two or more different outputs at a lower cost than producing each output individually.

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ANSWER:

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Economies of Blank are the savings that come from producing two or more different outputs at a lower cost than producing each output individually.

Multiple choice question.
Reason: 

Economies of scale are decreases in cost per unit as output increases. For example, the unit cost for a bicycle is less when you can produce 10,000 bicycles per year instead of 500.

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Posted by Cleveland on November 7, 2024
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