The ________ size of the market improves economies of scale, which in turn elevate production nations.

Question

Quizplus · Accepted Answer

When the market size increases, there is a larger customer base, leading to higher demand and sales for businesses. This allows for larger production runs and economies of scale, where the cost per unit decreases as production increases. As a result, businesses can produce more efficiently and at a lower cost, which can potentially lead to higher profits and competition in the market. Therefore, an increased market size improves the economies of scale, which can elevate production and lead to economic growth.

The ________ Size of the Market Improves Economies of Scale