"When the Cost of Producing a Unit of a Good

question 162

Multiple Choice

"When the cost of producing a unit of a good falls because the firm uses specialized resources to produce a range of goods and services" is the definition of

• A) economies of scope.
• B) economies of scale.
• C) economic efficiency.
• D) technological efficiency.

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Definitions:

Muscular Tissue

A type of tissue in animals that is composed of cells that have the ability to contract, producing movement or maintaining the position of parts of the body.

Blended Families

Blended families are families formed by the merging of two pre-existing families into one new unit, often involving parents who have remarried and their children from previous relationships.

Terminology

The set of specialized words or expressions used in a particular field or subject.

Students

Individuals enrolled in educational institutions for the purpose of learning and acquiring knowledge.