How does an industry's maturity impact potential economies of scale?

Question

Quizplus · Accepted Answer

Greater standardization in a mature industry helps to create economies of scale, which reduces per-unit costs and increases profitability. As an industry matures, firms get more adept at creating efficient processes and optimizing production methods. When similar products can be made quickly and consistently, economies of scale can be enjoyed in the form of cost savings.

How Does an Industry's Maturity Impact Potential Economies of Scale