Economies of scale and Increasing Returns to Scale are the same thing looked at from either the production or cost perspective
Indicate whether the statement is true or false
False. Increasing returns to scale imply economies of scale but the reverse is not true. A firm can experience economies of scale for other reasons (without increasing returns to scale)
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Matt's real wage in 2014 is $26.80. If the price level is 104, what is Matt's nominal wage?
A) $30.80 B) $27.87 C) $26.80 D) $25.77
What are the main components of money in the United States today?
What will be an ideal response?
The Solow model emphasizes the role of which of the following factors of production?
A) land B) labor C) capital D) natural resources
Members of the Board of Governors of the Federal Reserve are
A. appointed by the president of the United States. B. appointed by the Treasury Secretary. C. appointed by the outgoing chairman of the Board of Governors and confirmed by Congress. D. elected by the stockholders of the eight largest banks in the United States.