Economies of scale/Definition: Difference between revisions

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The factors that cause the cost of production of a product to fall as output of the product is increased.
The factors that cause the cost of production of a product to fall as output of the product is increased.

Latest revision as of 21:24, 22 May 2008

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Economies of scale [r]: The factors that cause the cost of production of a product to fall as output of the product is increased.