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:

Contractual Defenses

Legal arguments that can be used to challenge the enforceability of a contract, such as incapacity, duress, or fraud.

Surety Relationships

A legal arrangement where a third party (the surety) agrees to take responsibility for the debt or obligation of a borrower if the borrower defaults.

Modification

An alteration or change to an existing agreement or contract.

Surety Agreement

A legal contract where one party (the surety) guarantees the performance, obligations, or debts of another party (the principal) to a third party (the obligee).