Whenever the Same Investment Can Support Multiple Profitable Activities Less

question 35

Multiple Choice

Whenever the same investment can support multiple profitable activities less expensively in combination than separately,it is said the following exists:

• A)economies of scale
• B)economies of scope
• C)lowest unit cost pricing
• D)diseconomies of scale

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Definitions:

Availability Bias

The tendency to overestimate the likelihood of events based on their availability in memory, often influenced by recent occurrences.

Confirmation Error

A cognitive bias that involves giving more attention and weight to information that confirms one's preexisting beliefs or hypotheses, while ignoring or undervaluing information that contradicts them.

Adjustment Bias

A cognitive bias affecting decision-making, where individuals depend too heavily on initial information or adjustments from a reference point.

Lack-of-participation Error

A mistake or oversight occurring when individuals or groups do not contribute or engage in a required or expected activity.