Question 7 Which of the following statements is not true? Economies of scale   means lower average cost when production increases. can arise as a result of specialisation of labour. are different than economies of scope.

Economics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter21: Costs And The Supply Of Goods
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Question 7

Which of the following statements is not true? Economies of scale

 

  1. means lower average cost when production increases.
  2. can arise as a result of specialisation of labour.
  3. are different than economies of scope.
  4. cannot arise on a market with perfect competition.

 

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