In economics, what best describes economies of scale?
Great, you answered "The larger the output, the lower the cost".
See here what other people have answered:
- The smaller the production, the smaller the risk
- Producing two goods is cheaper than one
- The larger the output, the greater the risk
- The larger the output, the lower the cost
Click "CONTINUE" to proceed to the next question
Interesting fact:
The online MBA appears to have finally made its mark after an inauspicious start. Once the butt of jokes, the stigma surrounding the program has nearly vanished and solid areas of specialization have been established. Online programs are now seen as providing a broad understanding of the workings of business to roughly the same as on-campus programs. Many even offer specializations for students to customize their experience and most leading programs have received AACSB accreditation.