The reason for the merger of two businesses that sell unrelated goods but can share business practices and sales forces might best be explained by:
A. economies of scale.
B. economies of scope.
C. learning by doing.
D. indivisible costs.
Answer: B
Economics
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Refer to the scenario above. Thomas's arc elasticity of demand for wine is:
A) -0.33. B) -0.67. C) -0.25. D) -1.
Economics
Gross revenue minus explicit costs equals
A) accounting profit. B) implicit cost. C) opportunity cost. D) economic profit.
Economics
The act of discovering a new production process would be called
a. invention. b. innovation. c. investment. d. development.
Economics
The two characteristics of a competitive market are 1) many buyers and sellers in the market and 2) the goods offered by the various sellers are highly differentiated
a. True b. False Indicate whether the statement is true or false
Economics