Some goods can be produced at low cost only if they are produced in large quantities. This phenomenon is called
a. marginal cost of production.
b. marginal benefit of size.
c. economies of scale.
d. economies of production.
c
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The Federal Open Market Committee (FOMC)
A. provides advice on banking stability to the Fed. B. follows the actions and operations of financial markets to keep them open and competitive. C. sets policy on the sale and purchase of government bonds by the Fed. D. monitors regulatory banking laws for member banks.
One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women
a. True b. False Indicate whether the statement is true or false
Banks are able to create money:
a) with a printing press. b) by issuing loans. c) by selling bonds. d) by charging interest.
If one worker can pick $30 worth of grapes and two workers together can pick $50 worth of grapes, the:
A. marginal revenue product of each worker is $25. B. marginal revenue product of the first worker is $20. C. marginal revenue product of the second worker is $20.