In the case where a firm gains an advantage from producing more than one product, it is experiencing
A) economies of scale.
B) market economies.
C) economies of scope.
D) increasing returns to scale.
Question 2
Which of the following statements is true about the utility possibility frontier (UPF) for two people trying to strike a deal?
a. It limits the moves two individuals can make at different stages of the game.
b. It tells us how the point on the UPF that they finally reach might differ with their bargaining tactics.
c. It predicts the exact point where the two bargainers will end up irrespective of their bargaining tactics.
d. It tells us how the point on the UPF that they finally reach might differ with their personal characteristics
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