Question

It is often cheaper and more efficient for consumers if certain utilities are produced, maintained, and delivered by one or two companies. This would be an example of

A. Deregulation
B. Restricted competition
C. Economies of scale
D. Elasticity

Answer 1

The situation described above is generally considered to be an example of economies of scale.

This is because Economies of scale is a term that describes the cost benefits a company earned or got when the production is profitable.

Economies of scale are also applicable to Consumers, whereby they buy products at lesser prices.

Since the situation is described as "often cheaper and more efficient for consumers, " hence it is an example of Economies of Scale

Some of the causes of economies of scale include the following:

Rise in purchasing power by consumers;

Network economies;

Technical advancement;

Increased financial capacity, etc.

Hence, in this case, it is concluded that the correct answer is option C. "Economies of Scale."

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