"Internal economies" derive from all of the following except
(a) Division of labor
(b) Production of standardized products
(c) The use of mass production techniques
(d) There is no "except"; all of the above apply
(d)
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The production of paper creates pollution, an external cost. What happens to the production of paper if the government imposes a tax on paper producers equal to the marginal external cost of the pollution?
What will be an ideal response?
During the 1920s, the discount rate was the major policy tool of the Federal Reserve
Indicate whether the statement is true or false
If the demand for a good is elastic, a decrease in its price will result in additional revenue because the increase in quantity more than offsets the decrease in price
a. True b. False Indicate whether the statement is true or false
Pei Chen has a federal personal income marginal tax rate of 28 percent. His average tax rate
A. is more than 28%. B. is also 28%. C. is less than 28%. D. is zero.