Question

Economies of scale can be caused by: a. ​higher information costs as a firm expands. b....

Economies of scale can be caused by:

a.

​higher information costs as a firm expands.

b.

​the use of larger, more specialized machines.

c.

​a decrease in plant size.

d.

​short-run increases in marginal productivity.

e.

​bureaucratic red tape as a firm expands.

Homework Answers

Answer #1

Economies of scale is a situation in which firm experiences the cost advantage such that with the increasing level of production the cost decreases and it implies that the average cost curve will be download sloping in the long run. So the right answer is option B, that is, the use of larger; more specialized machines, because when the firm uses larger and more specialised machines it implies that the firm can produce more of the output due to the better and specialised machine which also helps in increasing the productivity of the workers.

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