Question

Discuss the concept of economies of scale and economies of scope. Give suitable examples​

Answer 1

Answer:

Here you go!

Explanation:

Economies of scope are reductions in average costs attributable to an increase in the number of goods produced. For example, fast food outlets have a lower average cost producing a multitude of goods than would separate firms producing the same goods

Answer 2

Answer:

Economy of scope and economy of scale are two different concepts used to help cut a company's costs. Economies of scope focuses on the average total cost of production of a variety of goods, whereas economies of scale focuses on the cost advantage that arises when there is a higher level of production of one good.