JAMB - Economics (2015 - No. 60)
How can a firm benefit from external economies?
Increasing its expenditure on advertising
Increasing the workforce
Locating in an area in which the industry is already established
Merging with another domestic firm engaged in the same industry
Paaiškinimas
External economies is the benefit which a firm derives from the centration of similar firms which leads to an increase in output and a reduction in the unit cost
The firm will benefit from the area where the industry is located
The firm will benefit from the area where the industry is located