Initial economies of scale means that select one firms are, Ask an Expert

Economics

Initial economies of scale means that select one firms are experiencing lower average production costs due to a geographical concentration of firms in their industry that make it cheaper and easier to hire highly specialized worker and inputs firms will have lower profits after international trade begins, because costs will be higher than when they just focused on the domestic market.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91695578

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