Cost Advantages That a Firm Gets Because It Is Part

question 117

Multiple Choice

Cost advantages that a firm gets because it is part of a large industry are called:

• A) economies of scope
• B) economies of scale
• C) external economies
• D) infrastructure economies

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Definitions:

Crowdsourcing

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GPS App

A software application that utilizes the Global Positioning System to provide geographical location and navigation information to users on their devices.

Live Traffic Updates

Real-time information provided about traffic conditions, such as congestion, accidents, and road closures.

Equity Crowdfunding

A form of crowdfunding that gives investors the opportunity to become shareholders in a company.