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13 Dec 2019

How can regional concentration of firms in an industry lead to external economies of scale? Give examples of these types of industrial clusters in the United States. Are they always beneficial?

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Jean Keeling
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17 Dec 2019
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Related questions

Which best explains why international trade agreements are beneficial for developing economies?

1. They can lead to offers of foreign aid.

2. They can help countries compete with the United States.

3. They can help those countries' economies to grow quickly.

4. They can lead to the lifting of sanctions.

1. The effect of a tariff

Select one:

a. is negligible since it applies to firms outside the U.S.

b. can lead to economies of scale for firms inside the U.S.

c. can lead to a monopoly advantage for firms inside the U.S. since they become the sole suppliers inside the U.S.

d. will be more beneficial to large firms than too small firms.

2. The monopolist faces a demand curve that

Select one:

a. is perfectly horizontal at the market price.

b. is below the marginal revenue curve.

c. is downward sloping.

d. coincides with the industry supply.

1. Explain the difference between external and internal economies of scale. How does one arise compared to the other? Provide a real-world example of an industry/firm that exhibits each type of economies of scale and how they achieved it.

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