Economies of Scope Refer To

question 122

Multiple Choice

Economies of scope refer to:

• A) changes in technology.
• B) the very long run.
• C) multiproduct firms.
• D) single product firms that utilize multiple plants.
• E) short-run economies of scale.

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Definitions:

Implicit Memory

A type of long-term memory that enables people to perform tasks without conscious awareness of these previous experiences.

Explicit Memory

A type of long-term memory involving the conscious recollection of facts and experiences, such as remembering a specific event or information.

Eidetic Memory

The rare ability to vividly recall images, sounds, or objects in memory with great precision and detail, often referred to as photographic memory.

Procedural Memory

A type of long-term memory responsible for knowing how to do things, such as riding a bicycle or typing, also referred to as muscle memory.