Like Loyola, many universities have either a college football program or a basketball program. Relatively few have both. This indicates the presence of A. economies of scope. B. diseconomies of scope. C. returns to scale. D. the law of diminishing marginal returns. E. None of the above.

Like Loyola, many universities have either a college football program or a basketball program. Relatively few have both. This indicates the presence of A. economies of scope. B. diseconomies of scope. C. returns to scale. D. the law of diminishing marginal returns. E. None of the above.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section: Chapter Questions

Problem 9QP

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Concept explainers

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.

Question

Like Loyola, many universities have either a college football program or a basketball program. Relatively few have both. This indicates the presence of

A. economies of scope.

B. diseconomies of scope.

C. returns to scale.

D. the law of diminishing marginal returns.

E. None of the above.

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