Economies of scope is when a firm obtains a production advantage from producing more than one product.

Name: Economies of scope is when a firm obtains a production advantage from producing more than one product.
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Economies of scope refer to the cost savings a firm achieves by producing a variety of products compared to producing each product separately. It allows the firm to share resources and reduce costs in areas such as research and development, marketing, and distribution.

Economies of Scope Is When a Firm Obtains a Production