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solniwko [45]
4 years ago
6

Economies of scale: Question 1 options: A) are available to small firms but not to large firms due to management inefficiencies.

B) are achieved when a firm reduces its average cost of goods as it produces more. C) can be avoided by purchasing supplies and raw materials in large quantities. D) help explain the success of small businesses.
Business
1 answer:
Akimi4 [234]4 years ago
3 0

Answer:

The correct answer is option B.

Explanation:

Economies of scale refer to the situation when a firm is able to reduce its average cost of production as it goes on increasing its level of output while the price of inputs is constant.

The average cost of production is the ratio of the total cost incurred and the total output produced. As the number of output goes on increasing after a certain limit, the average cost starts to decline.

The larger the firm the more it will be able to save the cost. That's the reason why large businesses are more successful.

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Answer: duration of the portfolio

Explanation:

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One of the huge benefits of just-in-time production is that the need for "time" is eliminated.

<h3>What is just-in-time production?</h3>

With just-in-time (JIT) manufacturing, products are produced as needed, rather than in excess or ahead of schedule.

Some characteristics of just-in-time are-

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  • Because Toyota, a vehicle manufacturer, introduced just-in-time manufacturing in the 1970s, the practise is often referred to as the Toyota Production System (TPS).
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  • The JIT system is also known as short-cycle manufacturing (as used by Motorola) and continuous-flow manufacturing (as used by IBM).

To know more about just-in-time inventory management, here

brainly.com/question/8842151

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