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Author Question: Economies of scope has to do with lowering production costs by increasing the quantity of a product ... (Read 123 times)

wenmo

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on: Jun 29, 2018
Economies of scope has to do with lowering production costs by increasing the quantity of a product produced, whereas economies of scale has to do with lowering production costs by producing several products within the same firm.
 
  Indicate whether the statement is true or false

Question 2

If consumers spend their money only on beef and vegetables, then the substitution effect of an increase in the price of beef would result in consuming ________ beef and ________ vegetables.
 
  A) more; more
  B) less; fewer
  C) more; fewer
  D) less; more


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snackralk

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

B


wenmo

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Reply 2 on: Jun 29, 2018
:D TYSM

at

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Reply 3 on: Yesterday
Excellent

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