The ability to rapidly and inexpensively switch production from one product to another enables what are sometimes referred to as?
A) Economies of scale
B) Economies of size
C) Economies of shape
D) Economies of scope
E) Economies of shipping

Question

Quizplus · Accepted Answer

The ability to switch production from one product to another allows for economies of scope, which refers to the cost savings that come from producing multiple products using the same resources and facilities.

The Ability to Rapidly and Inexpensively Switch Production from One