Lumpy Assets Are Assets That Cannot Be Acquired in Small

question 43

True/False

Lumpy assets are assets that cannot be acquired in small increments; rather, they must be obtained in large, discrete amounts. 

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Definitions:

Decreasing Returns To Scale

See Diseconomies of scale.

Economies Of Scope

Exist when the cost of producing two products jointly is less than the cost of producing those two products separately.

Economies Of Scope

Describes cost advantages that businesses experience when they increase the variety of goods or services they offer, utilizing shared operations or resources.

Economies Of Scope

Cost advantages that enterprises obtain due to a larger scope of operations, where producing a wider variety of goods or services results in lower average costs.