ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Would you please tell me how the economies of scale can spread out the cost of production, so that the average cost of each product is reduced?

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Economies of scale are achieved when a business starts witnessing the cost reductions due to increasing efficient output or production of goods.

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