In a decreasing cost industry, price often decreases over time due to _____ of scale.

Name: In a decreasing cost industry, price often decreases over time due to _____ of scale.
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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. In a decreasing cost industry, as production increases, the industry benefits from economies of scale, leading to a decrease in price over time.

In a Decreasing Cost Industry, Price Often Decreases Over Time