Economies of scale involve
A. economies realized by producing several goods simultaneously.
B. economies in marketing and transportation of many products.
C. economies from being larger and have lower cost per unit.
D. all of the above.
Ans: C. economies from being larger and have lower cost per unit.
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Refer to the graph below. 
Given the production possibility curve, which point is unattainable?
A. A B. B C. C D. D
marketing services that add "time value" include:
a) transportation b) processing c) marketing d) storage e) all of the above
Which of the following is a market imperfection that might explain persistent wage differentials within an occupation?
A. Geographical immobility of workers. B. Readily available information about job opportunities and pay. C. Principal-agent problems. D. Compensating wage differentials.
Refer to Common Property II. If the common property is privately owned, the surplus to the consumers is
a. Area I b. Area I + F + G c. Area I + F + G + H d. zero.