Economies of Scale

Economies of Scale economies of scale Economies of scale are essentially the cost advantages that a firm can gain by expanding its output Economies of scale reduce the long run average cost per slotofgod External economies of scale External economies of scale result from external factors outside the company's control, such as the industry,

slotofgod economy of scale, in economics, the relationship between the size of a plant or industry and the lowest possible cost of a product When a factory increases

kingofwinner Economies of scale is a term used to describe situations when the cost of producing a single unit of product decreases when the total number of units What does this do to output? If output goes up by more than λ, we have an economy of scale (also known as increasing returns to scaleSituation that exists when