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Which of these is an example of economies of scale? a. A shoe store finds it can increase profits by hiring high school students who are willing to work for minimum wage. b. A ranch increases its profits by expanding from 400 to 800 cattle without buying or renting additional land. c. A restaurant charges customers $1 a glass for water that was once provided for free. d. An Internet access company charges customers different rates for using the Internet at different times of day.
Weegy: Which of these is an example of economies of scale? b. A ranch increases its profits by expanding from 400 to 800 cattle without buying or renting additional land. User: When a business owner purchases a license that gives them the right to use the name and business practices of a company, this individual owns a ____________. a. monopoly c. patent b. franchise d. proprietorship Weegy: b. [ franchise when a business owner purchases a license that gives them the right to use the name and business practices of a company, this individual owns a franchise. What is a franchise? A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. Some examples of today's popular franchises are McDonald's, Subway, Domino's Pizza, and the UPS Store. If you satisfy with our answer please provide positive rating to us Thank You for visiting weegy ] User: Why can an industry that enjoys economies of scale easily become a natural monopoly? a. because average costs drop as production rises b. because the market taxes less as production rises c. because consumers tend to appreciate monopolies d. because our government traditionally supports monopolies Weegy: a. because average costs drop as production rises User: A government monopoly is one that is created by the government for the sole reason of making money for government use. User: What kind of market runs most efficiently when one large firm supplies all of the output? a. a natural monopoly c. perfect competition b. a network d. imperfect competition Weegy: A natural monopoly runs most efficiently when one large firm supplies all of the output. User: Some examples of barriers to entry are technology and start-up costs. Weegy: BARRIERS to entry are the obstacles that must be overcome and the costs that must be paid by a new entrant but not by firms already in the industry. [ Barriers to entry have the effect of making a ... (More)
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Asked 7/19/2013 5:40:14 AM
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Economists describe an unintended side effect of a business activity as an externality User: A natural monopoly is a market that runs most efficiently when one large firm supplies all the output. User: Market failure can occur when resources do not move freely from one industry to another. User: An externality is an unintended side effect that benefits or harms a third party not involved in the activity. User: Which of the following is one market trend that results when a monopolistically ...
Weegy: b. The firm would try to lure 100 percent of customers by flooding the market with defective products. User: Suppose the government passed a law, taxing manufacturers according to the amount of pollutants they release into the environment. This law would be an example of which regulatory function of government shown in the illustration? a. protect consumers b. supervise labor/management relations c. promote competition d. regulate negative externalities (More)
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Updated 10/22/2013 12:08:57 PM
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Added 10/22/2013 12:08:57 PM
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