According to the concept of economies of scale what is the best way to achieve high efficiency and low unit costs?

Question

Quizplus · Accepted Answer

The concept of economies of scale suggests that as the level of production increases, the cost per unit of output decreases. This is achieved through mass production of standardized outputs because it allows for the use of specialized equipment, division of labor, and reduction in transportation costs per unit. Customizing products for each individual market would increase costs, concentrating on small volumes would not allow for the benefits of specialization, and increasing product variety would lead to increased complexity and higher costs.

According to the Concept of Economies of Scale What Is