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).
D
You might also like to view...
Trade between countries that is without restrictions is called
A) unencumbered trade. B) unabated trade. C) free trade. D) unobstructed commerce.
The European Economic Community was created in 1957 by:
a. France, the United Kingdom, Italy, Belgium, the Netherlands, and Luxembourg. b. France, West Germany, Italy, Belgium, the Netherlands, and Luxemburg. c. France, West Germany, Italy, Belgium, the Netherlands, and the United Kingdom. d. France, West Germany, Italy, the United Kingdom, Belgium, the Netherlands, and Luxembourg. e. France, West Germany, Italy, Belgium, the United Kingdom, and Luxembourg.
Which of the following is correct?
a. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago. b. Most countries have had little fluctuation around their average growth rates during the past 120 years. c. The ranking of countries by income changes little over time. d. Even though Japan had a higher growth rate of real GDP per person than the U.S. over the last 120 years, it's level of real GDP per person is less than that of the U.S.
Refer to the information provided in Figure 12.5 below to answer the question(s) that follow. 
Figure 12.5
Refer to Figure 12.5. A firm produces hula hoops in a perfectly competitive market and currently produces and sells 100 per week. At this production quantity of 100 per week, society would be best served
A. if the price was higher than $10 per hula hoop. B. if the price was lower than $10 per hula hoop. C. if the price remained at $10 per hula hoop. D. Society cannot be best served at a production quantity of 100, regardless of the price per hula hoop.