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Economy of scale: Quiz


Question 1: Economies of scale also play a role in a "________."
Competition lawNatural monopolyCoercive monopolyBarriers to entry

Question 2: Each of these factors reduces the ________ (LRAC) of production by shifting the short-run average total cost (SRATC) curve down and to the right.
Marginal costCost curveDiminishing returnsEconomics

Question 3: Economies of scale, in ________, are the cost advantages that a business obtains due to expansion.
MoneyHeterodox economicsMicroeconomicsLaw and economics

Question 4: Economies of scale — As a firm doubles output, the total cost of inputs does not double
________ — As a firm doubles its output, the total cost of inputs more than doubles.
Diseconomy of scaleBuickIdeal firm sizeGeneral Motors

Question 5: In some economic theory (e.g., "________") there is an assumption of constant returns to scale.
Neoclassical economicsEconomicsJEL classification codesPerfect competition


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