Multiple Choice
Which of the following statements is TRUE with respect to economies of scale?
I. It is cheaper for 500 manufacturers to make 30,000 cars each.
II. It is cheaper for five manufacturers to make 3,000,000 cars each.
III. Bigger firms mean fewer firms.
A) I only
B) I and III only
C) II and III only
D) I, II, and III
Correct Answer:
Verified
Correct Answer:
Verified
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