When It Is Cheaper for One Firm to Produce a Number

question 61

Multiple Choice

When it is cheaper for one firm to produce a number of different commodities together than it is for a group of small firms to produce those commodities, ____ exist(s) .

• A)economies of scale
• B)economies of scope
• C)diminishing marginal returns
• D)marginal cost pricing

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Definitions:

Role Management Stage

A phase in career development where individuals focus on balancing and adjusting their roles within their professional settings to meet both personal and organizational expectations.

Organizational Socialization

The process through which new employees acquire the necessary knowledge, skills, and behaviors to become effective organizational members.

Socialization Adjustment Process

The process through which individuals learn and adapt to the norms, values, behaviors, and social skills necessary for integration into a new social group or culture.

Organizational Culture

The set of shared values, beliefs, behaviors, and practices that influences the way employees behave within an organization.