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15. If a higher level of production will allow employees to specialize in particular tasks, the...

15. If a higher level of production will allow employees to specialize in particular tasks, the company will show:
a. Economics of scale and reduced average total cost
b. Economics of scale and increased average total cost
C. Diseconomy of scale and reduced average total cost
d. Diseconomy of scale and increased average total cost

16. The production possibilities curve represents the combination:
a. Maximum of goods and services that an economy can produce given the limited production factors.
b. Average of goods and services produced in an economy with the factors of production and available technology.
C. Of goods and services that is currently producing an economy.
d. Minimum of goods and services that an economy can produce given unlimited production factors

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Answer #1

15. a. Economics of scale and reduced average total cost

Explanation: Economies of scale refers to the cost advantages received by firms due to producing in large quantity.

16. a. Maximum of goods and services that an economy can produce given the limited production factors.
Explanation: The production possibilities curve shows the maximum amount of goods which can be produced with the resources of an economy.

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