Economies and diseconomies of scale

ECONOMY OF SCALE Definition & Meaning - economy of scale Economies of Scale These occur when mass producing a good results in lower average cost Average costs fall per unit spinsoft vip What Are Economies Of Scale? The theory of economies of scale was proposed by Adam Smith The theory posits that if economies of scale can be obtained, a

forge of wealth pg What does this do to output? If output goes up by more than λ, we have an economy of scale (also known as increasing returns to scaleSituation that exists when