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WAEC Economics 2023 Question 17

Question 17

Theory of Production

A small scale firm located within an industrial estate will enjoy

  1. A.government protection and funding.
  2. B.technological economies of scale.
  3. C.external economies of scale.
  4. D.financial economies of scale.
Show the answer and explanation

Answer: C (external economies of scale.)

Explanation

Shared roads, power and services in an estate are external economies.