Many firms continue to be small even though expansion could bring technical economies of scale. Which of these is not a likely explanation for that?
- ADemand for the product tends to change often and rapidly.
- BIndividual entrepreneurs wish to keep a tight personal control over their own firm.
- CThe entrepreneurs who establish the firms tend to be ambitious risk-takers.
- DThe market in which they operate is very specialised in nature, often selling unique products.