When do economies and diseconomies of scale arise?
A
Only when fixed costs rise while variable costs remain unchanged.
B
Only in the short run, when at least one factor of production is fixed.
C
Only in the long run, when every factor of production and plant size can vary.
D
In both the short run and long run, whenever output increases.
3.3.3 Economies and diseconomies of scale Flashcards
Flashcards for Edexcel A A Level Economics 3.3.3 Economies and diseconomies of scale, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 20 cards, matched to the Edexcel A A Level Economics (9EC0) specification.