Post-UTME Economics 2011 Objective — Question 3
Question 3 of 12 from the Post-UTME Screening (Post-UTME) Economics 2011 Objective paper, with the correct answer and a full explanation.
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The advantage a firm enjoys by producing a wide range of goods is known as
- A. risk bearing economiesCorrect
- B. volume economies
- C. research and development economies
- D. market economies
Explanation
Producing a diversified range of goods spreads/reduces risk, a benefit known as risk-bearing economies of scale.
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