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Question
ʺIf an industryʹs minimum efficient scale is between 2,000 and 4,000 units of output, then a firm producing 2,000 units of output in that industry has a cost -saving advantage over another firm producing 4,000 units of output in the same industry.ʺ Do you agree or disagree? Explain.
Answer
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Related questions
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Q:
Refer to the above figure. At a price of $2 per gallon, there isA) a surplus of 20,000 gallons per month. B) a shortage of 40,000 gallons per month.C) a shortage of 80,000 gallons per month. D) a shortage of 60,000 gallons per month.
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A) A medical studentʹs internship
B) The purchase of a personal computer for playing games
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Markets tend to underallocate resources to the production of a good whenA) there are negative externalities. B) there are positive externalities. C) there are public goods produced. D) equilibrium occurs.
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