Question

Economies of scale meaning

Answer 1

When more units of a good or service can be produced on a larger scale, yet with (on average) fewer input costs, economies of scale are said to be achieved. Alternatively, this means that as a company grows and production units increase, a company will have a better chance to decrease its costs.

Answer 2

Answer:

Economy of scale means a proportionate saving in costs gained by an increased level of production.

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