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SpyIntel [72]
2 years ago
8

The term economies of scale refers to the fact that as the:

Business
1 answer:
frutty [35]2 years ago
7 0

Answer:

quantity of product produced in a given period increases, the cost of manufacturing each unit decreases

Explanation:

Economies of scale happens when the average total cost (variable + fixed production costs per unit) decreases as total output increases. This generally takes place because fixed costs are the same for a small number of units produced or a large number of units produced, so the average fixed cost per unit tend to decrease as more units are produced (at least up to certain point). Variable production costs per unit can also decrease as total output increases since materials might be purchased in larger quantities resulting in higher discounts or labor productivity increases.

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2 years ago
Using the following information, determine the location quotient for Motor City: employment in motor vehicle manufacturing withi
ValentinkaMS [17]

Answer:

15.7

Explanation:

In this question we have the following information

Employment in Motor Vehicle manufacturing within city = 12643

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This is approximately

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Therefore the location quotient = 15.7

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3 years ago
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Exercise 7-29 (LO. 6) Tim, a single taxpayer, operates a business as a single-member LLC. In 2018, his LLC reports business inco
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Answer:

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2 years ago
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