McqMate
| Q. |
Economies of Scale means reduction in |
| A. | unit cost of production |
| B. | unit cost of distribution |
| C. | total cost of production |
| D. | total cost of distribution |
| Answer» A. unit cost of production | |
|
Explanation: In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion. "Economies of scale" is a long run concept and refers to reductions in unit cost as the size of a facility and the usage levels of other inputs increase. |
|
View all MCQs in
Economics (GK)No comments yet