The concept of economies of scale with economies of scope. Give illustrations of the two concepts through real world examples.

Compare the concept of economies of scale with economies of scope. Both concepts have same principle which is to lower the production cost, cost savings and increase the marketing competitive advantage in order to gain the high return. However, they have different approach and strategy to save cost and increase return. The concept of economies of scale is cost savings that accrue from increases or expands in size or number. If two plants produce same …

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