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Question
Microeconomics
Posted 10 months ago
Which of the following best illustrates 'economies of scope'?
A) A factory producing more units of a single product at a decreasing cost per unit
B) A company benefiting from producing a range of different products using the same resources
C) A company expanding its market share by acquiring competitors
D) A firm increasing its production as it grows in size
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Answer from Sia
Posted 10 months ago
B
Key Concept
Economies of Scope
Explanation
Economies of scope occur when a company can produce multiple products more cheaply in combination than separately because it can use shared inputs or processes.

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