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.
1.3k
0
Do you find this helpful?
18

View all MCQs in

Economics (GK)

Discussion

No comments yet