Economies of scale refer to the fact that as the:

Question

Quizplus · Accepted Answer

Economies of scale refer to the fact that as the quantity of product produced in a given time period increases, the cost of manufacturing each unit decreases. This is because fixed costs such as rent or equipment are spread out over more units, making them cheaper to produce. Additionally, larger production runs often allow for bulk purchasing of raw materials, further reducing per unit costs. Therefore, option C is the correct answer.

Economies of Scale Refer to the Fact That as The