Which of the following describes economies of scale? A system that weighs the amount of coal necessary for each megawatt produced
A country whose economy is based on the metric scale
A pricing scheme that allows entrepreneurs to charge different prices
A concept that says when more units are produced, each unit has a lower cost

Suppose you are a freshmen in college and you have not declared a major. one reason you enrolled at your respective college was the school's vibrant social life. at the same time, you want to balance your academic life because you know that your grades will matter for graduate school or job applications. you decide to forgo partying for two hours to study for an upcoming economics exam. in your first semester's principles of economics class, you learn that the enjoyment you would have received from partying is an example of a(n)