Explain the Difference Between Increasing Marginal Returns and Economies of Scale

question 430

Essay

Explain the difference between increasing marginal returns and economies of scale.

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Definitions:

Trains

Rail vehicles that move along tracks and are used for transporting people or goods over long and short distances.

Freedom

The condition or right of being able to act, speak, or think as one wants without hindrance or restraint, fundamental to democratic societies.

Historical Significance

The importance or impact of an event, idea, or person in history and how it has contributed to or altered the course of human society.

The Amistad

A historical event in 1839 involving a successful revolt by enslaved Africans on the Spanish schooner La Amistad.