Examlex
What are three common types of pins?
Economies of Scale
Refers to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Economies of Scale
Cost advantages reaped by companies when production becomes efficient, leading to a decrease in the per-unit cost as output increases.
Diseconomies of Scale
The situation in which the cost of producing each individual unit rises when a company's production volume grows, often resulting from inefficiencies and a rise in complexity.
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