External economies are ____________
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- A The advantages accruing to firm as a result of its expansion
- B The advantages accruing to one firm as a result of the existence of other firms in the same locality
- C Benefits derived by a firm as a result of its own external economies policy
- D Economies reaped only by firms that are externally focused
- E Bound to increase the cost of production
Correct Answer: Option B
Explanation:
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