Define agglomeration economies
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Definition of agglomeration economy
: a localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit from the cost reductions and gains in efficiency that result from this proximityThe existence of agglomeration economies can imply different things for local and national policymakers. —Edward L. Glaeser, Agglomeration Economics, 2010
: a localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit from the cost reductions and gains in efficiency that result from this proximityThe existence of agglomeration economies can imply different things for local and national policymakers. —Edward L. Glaeser, Agglomeration Economics, 2010
tanvi1234548:
Please explain it in easy words
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a localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit from the cost reductions and gains in efficiency that result from this proximity.
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