Study guides, Class notes & Summaries

Question 1 Diseconomies of scale is a result of mismanagement. difficulties of coordinating and controlling a large enterprise. larger fixed costs as the firm's production increases. technological progress. specialization of labor, capital, and management. Question 2 In a perfectly competitive market, the firm is a price taker because ______. the price in the market is the price that maximizes each? firm's producer surplus the firms in perfect competition are interdependent and if one firm charg...