Economics WAEC

External economies refer to the?

A. cost-saving advantage a firm enjoys when by being close to other firms in the same industry
B. disadvantage to a firm that is close to other firms
C. economies of large scale production
D. economies of low scale production
E. artificial scarcity of goods

Correct Answer:

Option A – cost-saving advantage a firm enjoys when by being close to other firms in the same industry

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