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Hayden Baxter
Business
4 September, 13:36
What is it meant by economies of scale?
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Ann Cabrera
4 September, 13:58
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Economies of scale refers to the cost advantage that emerges or become visible with higher or improved output of a product. There is an inverse relationship between the quantity proposed and per unit fixed costs therefore, if the product or good is produced in large or high quanity the per unit fixed cost goes down because it can already be shared with other large number of goods. There are two types of economics of sale, the internal and of course the external.
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