Economies of scope are reaped when a firm expands the range of different products that it produces, and per unit cost falls.

Name: Economies of scope are reaped when a firm expands the range of different products that it produces, and per unit cost falls.
Brand: Quizplus
Rating: 4.9 (30 reviews)

Question

Quizplus · Accepted Answer

Economies of scope occur when producing a variety of products together is more cost-effective than producing each one separately, leading to a reduction in per unit cost.

Economies of Scope Are Reaped When a Firm Expands the Range