Economies and Diseconomies of Scale

Q. Average cost curve of a firm is ________.

1. C - shaped
2. T - shaped
3. I - shaped
4. U - shaped

Q. Economies of scale mean __________.

1. reduction in unit cost of production
2. reduction in unit cost of distribution
3. addition to the unit cost of production
4. reduction in the total cost of production

Q. Which of the following is defined as branch of economic analysis that studies the economic behavior of the individual unit, a particular household, or a particular firm?

1. Macro economics
2. Micro economics
3. National economics
4. General economics

Q. Define or explain the concepts.

1. Economic growth

2. Industrial progress

3. Per capita income.