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Homework answers / question archive / When the cost of producing a unit of a good falls because the firm uses specialized resources to produce a range of goods and services" is the definition of A
When the cost of producing a unit of a good falls because the firm uses specialized resources to produce a range of goods and services" is the definition of
A. economic efficiency.
B. economies of scale.
C. technological efficiency.
D. economies of scope.
Economies of scope is an economic concept that is explained by reducing a particular product's cost when a similar commodity is produced. Therefore, when the production cost of a specific product falls because the producing firm uses resources to deliver more goods, that is the concept of economies of scope.