Economies of scope Study guides, Class notes & Summaries

If, when a firm doubles all its inputs, its average cost of production decreases, then production displays a.) diminishing returns b.) economies of scale c.) diseconomies of scale d.) declining fixed costs correct answers b. ) economies of scale The long-run average cost curve shows A) the lowest average cost of producing every level of output in the long run. B) where the most profitable level of output occurs. C) the average cost of producing where diminishing returns are not prese...

If, when a firm double all its inputs, its average cost of production decreases, then production displays correct answers economies of scale The long-run average cost curve shows correct answers the lowest average cost of producing every level of output in the long run All of the following statements are true of the minimum efficient scale except one. Which one? correct answers an increase in the output level will increase profit At the minimum efficient scale correct answers the firm h...

MAN 4720 Final Exam UCF (Capstone UCF) Questions and Answers Already Passed What is a generic business strategy? A. a general way of positioning a firm's business-level strategy within an industry B. a general way of positioning a firm's business-level strategy to penetrate an international market C. a general strategy that positions your firm in a competitive position within an industry D. all of the above A What are the two dimensions on which generic business strategies are...

A business is able to reduce unit costs because of lessons learnt throughout the period it has existed. This is known as: A economies of scale. B economies of scope. C synergy. D the experience curve. : D the experience curve The managers of a business propose to retain all of its profit to finance automation of a business is able to reduce unit costs because of lessons learned throughout the its production. This is most likely to cause conflict with: A employees and lenders. B e...

WGU Global Business D080 Cost Economies of scale and scope. Exploiting cost of factors of production Competition New Markets and increased levels of trade Government Favorable policies and support for industry Subsidies A sum of money granted by the government to assist an industry or business Patents Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions Copyrights A ...

Despite the advantages of large firms, many small businesses are very successful. Give three reasons that justify this statement. [6] Answer Reasons might include: - - Personalized services - Tailor- made products - Convenient opening times - Closeness / proximity to customers - Subcontracted by large firms etc. 2. (a) Explain the term “de- integration.” [3] (b) Why do firm “de- integrate.” [4] Answer (a) De- integration refers to the process of a firm or group reducing the ...

In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: producers and government planning committees. producers and input suppliers all consumers correct answers buyers and sellers Which of the following best describes a monetary policy tool? taxes government spending household savings correct answers interest rates Which of the following is most likely a topic of discussion in macroeconomics? a decrease in the productio...

Why is international marketing important? correct answers Creates opportunities for: 1. COUNTRIES - economic advantage - growth of consumption, higher spending on economy, expansion of economy - economic multiplier - creates jobs, builds on existing capabilities. 2. FIRMS - opportunities for expansion, growth of profitability and revenues - larger market access, economies of scale - take advantage of differing wants and needs with increased economies of scope 3. PEOPLE - creates jobs, b...

GBP Concepts Test #2 Questions & Answers 2023/2024 A, B, C, D - ANSWER-Firms that have diversified into multiple industries generally change their organizational structure by adding a corporate level (eg, GE, Siemens). There is a cost associated with this added level. What are some examples of how the corporate-level may add value? A.the cost of corporate R&D may be spread across multiple businesses B. the businesses may have greater purchasing power due to greater size at the corporate l...

Chapter 1—Financial Reporting MULTIPLE CHOICE 1. The following is NOT a major component of the financial statements: a. auditor’s opinion b. annual report c. explanatory notes d. balance sheet ANS: B PTS: 1 TOP: AICPA FN-Reporting DIF: Easy OBJ: LO 1 MSC: AACSB Reflective Thinking 2. The following are users of accounting information: a. stakeholders b. creditors c. investors d. all of the above ANS: D PTS: 1 TOP: AICPA FN-Reporting 3. Interested parties receive information ab...