It costs firm A $800 to produce five radios and it costs firm B $500 to produce five batteries. If Firm A merges with firm B, it can produce both the five radios and the five batteries for $1500 . The firm has experienced
a. Economies of Scale
b. Economies of Scope
c. Diseconomies of Scale
d. Diseconomies of Scope
d
Economics
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The process of innovation is the act of
a. discovering a new production process. b. discovering a new product. c. basic scientific research. d. adopting a new product to a market demand.
Economics
For monitoring fluctuations in the national economy, which measure of income is best?
a. GDP b. GNP c. NNP d. It does not matter very much which measure we use.
Economics
Between 1995 and 2000 our trade deficit more than ________________.
Fill in the blank(s) with the appropriate word(s).
Economics
A product's ability to satisfy a large number of consumers at the same time is called:
A. rent-seeking. B. simultaneous consumption. C. network effects. D. consumer sovereignty.
Economics