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Basic Question 3 of 10

If an industry enjoys economies of scale, its ______ tend to be positively correlated with its sales levels.

I. average cost.
II. gross margin.
III. operating margin.

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Lina

Lina

Learning Outcome Statements

demonstrate the development of a sales-based pro forma company model

CFA® 2025 Level I Curriculum, Volume 3, Module 12.