The concept of _____ tells us that as plant output expands,unit costs decrease.One reason is the greater utilization of capital equipment.

Name: The concept of _____ tells us that as plant output expands,unit costs decrease.One reason is the greater utilization of capital equipment.
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Question

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The concept of economies of scale refers to the decrease in unit costs as a plant's output expands. This is due to the spreading of fixed costs and the greater utilization of capital equipment.

The Concept of _____ Tells Us That as Plant Output