passwella.
Menu

WAEC Economics 2004 Question 9

Question 9

Theory of Production

As a firm expands, it enjoys some advantages called

  1. A.variable proportions
  2. B.diminishing marginal returns
  3. C.internal economies of scale
  4. D.decreasing returns to scale.
Show the answer and explanation

Answer: C (internal economies of scale)

Explanation

The cost advantages a firm gets from its own growth are internal economies of scale.