Economies of Scope Exist If

question 92

Multiple Choice

Economies of scope exist if:

• A)it is cheaper to have only one firm in an industry.
• B)it is cheaper for one firm to produce two products jointly than for separate firms to produce them separately.
• C)it is more expensive to have one firm in an industry.
• D)it is cheaper for two firms to work together to make two products than for one firm to make both by itself.

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Definitions:

Hyposecretion

The diminished secretion of hormones or other products from glands, leading to deficiencies in the body.

Abbreviation

A compact version of a word or phrase.

Potassium

A mineral and an electrolyte essential for cell function, heart, muscle, and nerve function, and the maintenance of normal blood pressure.

IDDM

Insulin-Dependent Diabetes Mellitus, also known as Type 1 Diabetes, where the body's immune system attacks insulin-producing cells.