The concept of economies of scope describes the savings acquired from simultaneous production of different products.

Name: The concept of economies of scope describes the savings acquired from simultaneous production of different products.
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Quizplus · Accepted Answer

This is an accurate description of economies of scope. It refers to the cost advantages that come from producing multiple products together, such as sharing resources or utilizing existing infrastructure.

The Concept of Economies of Scope Describes the Savings Acquired