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Learn about Economies of Scope and Production Possibility Frontier. Understand how to apply knowledge on practice and calculate production efficiency and how it’s related to units costs.
Welcome to GeeklyEDU by GeeklyHub Economics! Economies of Scope is mostly related to the companies that produce multiple products as oppose to one product of specific industry. As a company develops into a multiproduct company we can calculate its Product Possibility Frontier (or PPF). It means that they can increase the average production of product while decreasing average price per unit.
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#economics #microeconomics #economiesofscope #ppf #productpossibilityfrontier #geeklyhub

[@Hi-vo9de]

Great video. I know some different definitions of economies of scope in different situations, but I am looking for references or papers that exactly defines the economies of scope as you defined in this video. Could you please introduce any reference in this regard? Thanks.

[@nocapzz_1680]

Weeeww

[@deadlyydude5522]

Literally worthless