: Economies of Scale and Returns to Scale

Internal Economies of Scale · Occurs when large firms can employ specialist managers who are more efficient at certain tasks and this efficiency lowers the

In most perfectly competitive models, it is assumed that production takes place with constant returns to scale This means

ais fibre officer Economies of scale occur when increasing output leads to lower long-run average costs Also, explanation of different types of economies of

ไพ่ knight of pentacles Economies of scale are the potential cost savings that can be made by producing goods or services in higher volumes, spreading fixed costs over a great