O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2014 · Q121 Mark

When a shoe manufacturer doubles all factors of production output more than doubles. Which economic concept does this illustrate?

Adiseconomies of scale

Beconomies of scale

Cincreasing profits

Dopportunity cost

✓ Correct answer

B: economies of scale

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2014 Paper 1 Variant 2, question 12.

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