Explain about lowering cost by increasing manufacturing

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Reference no: EM13825484

Problems-

1. A bicycle factory finds that it can lower costs if it also produces tricycles and unicycles. This is an example of:

A) Opportunity cost.

B) Comparative advantage.

C) Economies of scale.

D) Economies of scope.

2. All of the following are considered barriers to entry except:

A) Patents.

B) Government franchises.

C) Advertisements.

D) Copyrights.

Additional Information-

These multiple choice problems belong to Economics. The first problem is about lowering cost by increasing manufacturing, the second problem is about barriers to entry for a firm in an industry.

Reference no: EM13825484

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