Generally, economies of scope are present when A) economies of ...

[rlane42]

Generally, economies of scope are present when
 
  A) economies of scale are present in the production of two or more goods.
  B) economies of scale are constant in the joint production of two products.
  C) joint output is less from a single firm than could be achieved from two different firms each producing a single product (assuming equivalent production inputs in both situations).
  D) joint output is greater from a single firm producing two goods than could be achieved by two different firms each producing a single product (assuming equivalent production inputs in both situations).

Question 2

Refer to Scenario 12.3. What price would this new drink sell for if it sold in a competitive market?
 
  A) 0
  B) 3
  C) 13.50
  D) 16.50
  E) 27

[Awesome]

Answer to Question 1

D

Answer to Question 2

B

[rlane42]

Excellent

[covalentbond]

TYSM