Economies of scale are cost savings enjoyed through more efficient production of larger volumes of a product or service.

Name: Economies of scale are cost savings enjoyed through more efficient production of larger volumes of a product or service.
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Question

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Economies of scale refer to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Economies of Scale Are Cost Savings Enjoyed Through More Efficient