Which of the Following Is an Example of a Producer

question 62

Multiple Choice

Which of the following is an example of a producer taking advantage of economies of scope?

• A)A farmer buys more land so he can produce more soybeans.
• B)GM closes a Chevy truck plant in response to a decline in the demand for trucks.
• C)Disney World stays open later to serve more customers per day.
• D)A dairy farmer produces cow's milk and butter.
• E)A mouthwash firm expands production by improving management efficiency.

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Definitions:

Real Estate Agent

A licensed professional who represents buyers or sellers in real estate transactions, facilitating the sale or lease of properties.

Express Agreement

A clear and unambiguous mutual understanding or contract between parties, typically in written or spoken form, regarding the terms of their arrangement.

Legal Rules

These are principles or directives enacted by a governing body that regulate behavior and are enforceable by the imposition of penalties for violations.

Commission

A fee paid to an agent or employee for transacting a sale, calculated as a percentage of the sale price.