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Economics · May / June 2021 · Paper 11 · Question 13

2281Firms

Why are many hairdressers able to operate as small businesses?

  1. Ahigh level of competition
  2. Bhigh scope for economies of scale
  3. Clong period of training required
  4. Dlow start-up and running costs

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Correct answer: D. low start-up and running costs

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