What is agglomeration economies?
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Agglomeration economies. Agglomeration economies or external economies of scale refer to the benefits from concentrating output and housing in particular areas. If an area specialises in the production of a certain type of good, all firms can benefit from various factors such as: Good supply networks.
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What is 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 proximity
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