Examlex
Identify and state the historical significance of the following:
-U-boats
Economies of Scale
The cost advantage that arises with increased output of a product, as the fixed costs are spread over more units of production.
Diseconomies of Scale
This occurs when a company grows so large that the costs per unit increase.
Levels of Output
Levels of output refer to the quantity of goods or services produced by a firm or industry over a specific period.
Economies of Scale
The cost advantages that enterpises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
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