The concept of economies of scale becomes especially relevant to international trade when it enables
a. numerous small producers to supply the entire country.
b. one or two large producers to supply the entire country.
c. numerous large producers to supply the entire country.
d. one or two small producers to supply the entire country.
b. one or two large producers to supply the entire country.
You might also like to view...
Personal consumption expenditures is the smallest component of total spending
a. True b. False Indicate whether the statement is true or false
Figure 11-2
?
As we move down the production possibilities schedule in Figure 11-2, each successive point is
A. less efficient. B. more efficient. C. equally efficient. D. more or less efficient; we cannot tell which.
If labor is fixed at 5 units, how much does the second unit of capital add to total output? 
Amount of total output produced from various combinations of labor and capital.
A. 490 B. 390 C. 100 D. 50 E. none of the above
We have had a downward trend in the unemployment rate since the 1980's until the increase occurring in
A. 1991. B. 2001. C. 2007. D. 2009.