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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

Business

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.

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  • "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 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.