Answered

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When economies of scale exist, one firm can produce more cheaply than two or more firms.

A. True
B. False

Sagot :

GinnyAnswer

Final answer:

Economies of scale imply lower average costs as output quantity increases, enabling firms to operate more cost-efficiently.


Explanation:

Economies of scale refer to the situation where, as the quantity of output increases, the cost per unit decreases. This concept allows a firm to produce at a lower average cost as it operates on a larger scale. For example, in industries like the refrigerator or newspaper industry where economies of scale exist, one firm can indeed produce more cheaply than two or more firms.


Learn more about Economies of scale here:

https://brainly.com/question/31601710


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