Economies of scale is a concept that states that the average unit cost of a good or service will increase with increasing output rate.

Name: Economies of scale is a concept that states that the average unit cost of a good or service will increase with increasing output rate.
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Economies of scale refer to the cost advantage that arises with increased output of a product, where the average unit cost decreases as production increases.

Economies of Scale Is a Concept That States That the Average