Asked by
Lacosta Sparks
on Nov 09, 2024Verified
The term economy of scale refers to which of the following?
A) Increasing costs through the production of larger quantities.
B) Decreasing costs through the production of larger quantities.
C) Decreasing costs through the production of smaller quantities.
D) Increasing costs through the production of smaller quantities.
Economy of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
- Comprehend the concept of economies of scale.
Verified Answer
JA
Learning Objectives
- Comprehend the concept of economies of scale.
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