_____________ – a term referring to the fact that for many goods, as the level of production increases, the average cost of producing each individual unit declines.
A. Skill
B. Specialization
C. Economies of scale
D. Division of labor
Answer:C
_____________ – a term referring to the fact that for many goods, as the level of production increases, the average cost of producing each individual unit declines.
A. Skill B. Specialization C. Economies of scale D. Division of labor