Economies of scope exist when
A) the total cost of production falls as the output increases.
B) a firm hires specialized resources to produce a range of goods and services.
C) a firm uses outsourcing to produce a good or service.
D) the cost of producing a unit of a good falls as its output increases.
B
Economics
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If the quantity demanded of a product rose from 900 to 1,200 when the price of the product fell from $11 to $9, the price elasticity of demand coefficient is equal to
a. -0.20. b. -0.70. c. -1.00. d. -1.42.
Economics
If a tax is levied on the sellers of a product, then there will be a(n)
a. downward shift of the demand curve. b. upward shift of the demand curve. c. decrease in quantity demanded. d. increase in quantity demanded.
Economics