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7.5.5 relationship between economies of scale and decreasing average costs

What are economies of scale?

A

Economies of scale are the fall in total cost as a firm expands its scale of output.

B

Economies of scale are the fall in long-run average cost as a firm expands its scale of output.

C

Economies of scale are the fall in short-run average cost as a firm expands its scale of output.

D

Economies of scale are the rise in long-run average cost as a firm expands its scale of output.

7.5.5 relationship between economies of scale and decreasing average costs Flashcards

  1. Intl A Level
  2. /Economics
  3. /7.5.5 relationship between economies of scale and decreasing average costs

21 flashcards on CIE Intl A Level Economics 7.5.5 relationship between economies of scale and decreasing average costs: the key terms and definitions you need to recall.