Economies of a firm are
(A) An increase in its profits
(B) A reduction in its selling expenses
(C) Its dominance of the market
(D) Saving in it’s production’ costs
Correct Answer : Saving in it’s production’ costs
Question Asked : SSC CAPFs SI, CISF ASI & Delhi Police SI Exam 2015
Explanation : Economics of a finn includes how it combines labour and capital so as to lower the average cost of output, either from increasing, decreasing, or constant returns to scale for one product line or from economies of scope for more than one product line. It includes producing more units of a good or a service on a larger scale, yet with (on average) less input costs.
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Tags : macroeconomics
