________ economies are scale economies that occur when the physical processes inside a firm are altered so that the same amounts of input produce a higher quantity of outputs.
A) Pecuniary
B) Diversification
C) Technical
D) Vertical

Question

Quizplus · Accepted Answer

Technical economies of scale refer to the ability of a firm to produce more output with the same level of inputs due to changes in the physical processes involved in production. This can be achieved through improved technology, better production techniques, or more efficient equipment. Pecuniary economies of scale relate to cost savings due to the firm's size and the bargaining power that comes with it, while diversification and vertical economies of scale involve cost savings achieved through corporate strategies such as mergers, acquisitions, or vertical integration.

________ Economies Are Scale Economies That Occur When the Physical