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Which is an example of a cutting instrument?
Average Costs
The total cost of production divided by the quantity produced, indicating the cost per unit of product or service.
Tolerances
The permitted variations in measurements or physical characteristics in the manufacturing or production of goods.
Economies of Scale
Economies of scale describe the reduction in per-unit cost that a company benefits from as it scales up production. This cost benefit is due to the fixed costs spreading over a larger number of units.
Economies of Scope
Cost advantages that enterprises obtain by producing a wide range of products, diversifying their output, and sharing production inputs.
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