Asked by Torye Smith on Apr 25, 2024
A firm can create economies of scope by using one manufacturing facility for a range of products.
Economies of Scope
Cost advantages that a business achieves by providing a variety of products rather than specializing in a single product or service.
- Learn about the strategies enterprises can employ to minimize costs by utilizing economies of scope.
Learning Objectives
- Learn about the strategies enterprises can employ to minimize costs by utilizing economies of scope.