Stark Widgets produces 100 widgets per week at a price of $10 per widget. The manager decides to increase production to 10,000 widgets per week by assigning skillful workers. The average cost of production decreases with the increase in production. This implies that the firm experiences _____
a. privatization
b. globalization
c. economies of scale
d. diseconomies of scale
c
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According to the Federal Reserve, household wealth in the United States fell by more than $11 trillion in 2008
Predict the effect this decrease in wealth had on the equilibrium real wage and level of employment, and use a graph to support your answer.
Most real world economies are mixed economies
a. True b. False Indicate whether the statement is true or false
After the first unit, a monopolist's marginal revenue is less than the price it charges because to sell an additional unit it needs to lower its price.
Answer the following statement true (T) or false (F)
Refer to Figure 29-1. The appreciation of the dollar is represented as a movement from
A) C to A. B) C to B. C) D to C. D) B to A.