Economies of scale:
A)Is another term for constant returns to scale.
B)Are cost advantages achieved as a result of large-scale operations.
C)Only come in pecuniary forms.
D)Are the same as decreasing returns to scale.

Question

Quizplus · Accepted Answer

Economies of scale refer to the cost advantages that companies can achieve as a result of large-scale operations. This can be achieved through various factors, such as greater efficiency, division of labor, and purchasing power.

Economies of Scale