Economies of scale refers to the fact that as the quantity of product produced in a given time period increase, the cost of manufacturing each unit decreases.
Economies of scale can be defined as the benefit a company or organization enjoy for expanding their business or the cost benefit a business derived when they increases their level of output.
Therefore Economies of scale refers to the fact that as the quantity of product produced in a given time period increase, the cost of manufacturing each unit decreases.
Learn more about economies of scale here:https://brainly.com/question/780900
#SPJ1
Economies of scale refers to the fact that as the quantity of product produced in a given time period increases, the cost of manufacturing each unit decrease.
Economies of scale is the benefit an individual or company gets when goods and commodities are produce effectively. This could result in additional profit from production process and sales.
Therefore, economies of scale refers to the fact that as the quantity of product produced in a given time period increases, the cost of manufacturing each unit decrease.
Learn more on economies of scale below
https://brainly.com/question/780900
#SPJ1
