A Firm with a Lower Unit Cost from Producing a Wider

question 22

Multiple Choice

A firm with a lower unit cost from producing a wider range of goods and services has economies of

• A)transactions costs.
• B)scale.
• C)scope.
• D)team production.
• E)market coordination.

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Definitions:

Distributive Justice

The perceived fairness of how resources and rewards are distributed within a social group or organization.

Equal Pay Act

A law aimed at abolishing wage disparity based on sex by ensuring that men and women receive equal pay for equal work.

Seniority System

A hierarchical structure within an organization that prioritizes individuals and their decisions based on their length of service or tenure.

Working Conditions

The environment in which an individual works, including aspects like safety, ergonomics, and the physical and psychological atmosphere.