Synergistic effects can arise from

Select one:

a. Operating economies - economies of scale in management, marketing, contracting, operations, or distribution, including mergers that better position a business strategically. 2. Financial economies - lower transaction costs, better access to capital markets, and better coverage by security analysts.

b. Direction efficiency - new management that uses the business's assets more productively.

c. Two of the above.

d. All of the above.