economies of scale
Definition
Reduction in long-run average and marginal costs, due to increase in size of an operating unit (a factory or plant, for example). Economics of scale can be internal to a firm (cost reduction due to technological and management factors) or external (cost reduction due to the effect of technology in an industry). See also diseconomies of scale.
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economies of scale is in the Accounting & Auditing and Economics, Politics, & Society subjects.
economies of scale appears in the definitions of the following terms:
low cost strategy,
domesticated market,
barriers to entry,
declining returns to scale,
economies of scope,
knowledge economy,
monopoly,
constant returns to scale,
nonlinearity,
diseconomies of scale
and
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