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Question 1 1 pts Why does a firm need a corporate strategy? (2 To manage more than one business unit or compete in more than one industry To decide which businesses it should operate in ( To decide how to structure the relationship between its businesses. () All of the above Question 2 1 pts 'Economies of scope' exist if: (2 Cost advantages arise from producing more of a particular product Cost advantages arise from producing multiple different products simultaneously ( Fixed costs increase Variable costs increase Question 3 1 pts The Better-Off Test can be satisfied if ( The total costs of producing two goods jointly is less than the combined cost of producing each product separately ( The total revenues earned by selling two products jointly is more than the potential revenues of selling the products separately ( Both AandB None of the above