1. If a market is characterized by economies of scale, then which of the following is true: a. this is a market with increasing costs b. this is a market with decreasing returns to scale c. this is a market with decreasing costs d. this is a market with increasing returns to scale e. both a and b are correct f. both c andd are correct

1. If a market is characterized by economies of scale, then which of the following is true: a. this is a market with increasing costs b. this is a market with decreasing returns to scale c. this is a market with decreasing costs d. this is a market with increasing returns to scale e. both a and b are correct f. both c andd are correct

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 21P

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