A larger variety of products results from international trade especially if: a

Economics Jun 23, 2021

A larger variety of products results from international trade especially if: a. International trade affords producers monopoly power b. National governments levy import tariffs and quotas c. Producing goods entails increasing costs d. Economies of scale exist for producers

Expert Solution

Answer

d .

Explanation

Economies of scale can be defined as the reduction in average costs of production that occur as a business increases its scale of production. It gives larger businesses a competitive advantage over smaller businesses.

The correct option is D "economies of scale exist for producers".

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