Microeconomics Study Set 26
Quiz 10: Organizing Production
One of the Reasons That a Firm Can Be ________
One of the reasons that a firm can be ________ efficient than a market is that the firm ________. A) more; does not have any economies of scale B) more; lowers transactions costs C) less; has economies of scope D) less; produces lower profits
Explore answers and all related questions
Kris wants to purchase a house. She buys newspapers to read the classified advertisements and spends her evenings with realtors looking at houses. Kris has incurred the ________ costs of making a purchase. A) transactions B) market C) buying D) scale
When the cost of producing a unit of a good decreases as its output rate increases, there are economies of A) scale. B) scope. C) production. D) size.
"When the cost of producing a unit of a good falls as its output rate increases" is the definition of A) economies of scope. B) economies of scale. C) economic efficiency. D) technological efficiency.
Explore all questions
How it work
Terms And Conditions
© 2020 QuizPlus. All Right Reserved