Explain the important role of economies of scale on the production of EVs.
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define economies of scale. Explain why economies of scale are so important.
Which statements are true regarding economies of scale.A. To maximize profits, a monopoly that occurs because of economies of scale should produce an output so that marginal revenue equals marginal costs. B. Economies of scale typically cause an industry to be perfectly competitive. C. When a firm has a natural monopoly it has that type of monopoly because of economies of scale. D. A firm that has economies of scale sees its average total costs decrease when production increases.
What are economies of scale and diseconomies of scale? How are economies of scale different from economies of scope? Summarize the different cost-cutting methods employed by firms in their business. What is unique about the business practices and strategy of the company Li and Fung? Visit their website for more current information at www.lifung.com
5. If a hospital has economies of scale with respect to production, then: a. it cannot have economies of scope. b. it must have economies of scope. c. it may or may not have economies of scope. d. it can only have economies of scope for those activities for which it has economies of scale. it can only have economies of scope for those activities for which it does not have economies of scale.
Select ANY company, which is enjoying economies of scale, economies of scope or both. Explain briefly how this company achieves the economies of scale/scope.
What is "economies of scale"? Compare the impact of economies of scale on both large and small businesses.
3 to 5 sentances each
1. Distinguish economies and diseconomies of scale. How can the extent to which economies and one scale explain the size and number of real world firms in an industry? 2. Distinguish the short run from the long run Generally, what causes costs of production to vary with output in the short ruan? What generally causes costs of production to vary in the long run? 3. What is the difference between economic and accounting profit? Why...
1. In the case of trade based on external economies of scale, the pattern of trade is determined by relative factor abundance. determined by comparative advantage. determined by relative technological differences. determined by history and accident. 2. Dynamic returns to scale refer to average cost falls with current rate of production marginal cost falls with current production average cost falls with cumulative production over time. marginal cost fall with cumulative production over time. 3. In which of the following cases...
1) What is internal economies of scale? And why would it be a source of trade? What are the gains of trade in the presence of internal economies of scale? 2) Using graph please explain how performance differences in an industry with internal economies of scale creates winners and losers after trade? Explain step by step.
Production of a good is characterized by external scale economies. Currently there is no trade in the product, and the product is produced in two countries. If trade is opened in this product, all production will be driven to occur in only one country. a. With free trade, why would production occur only in one country? b. Does opening trade bring gains to both countries? Explain.