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In the first month, infants may smile
Economies of Scale
Cost advantages reaped by companies when production becomes efficient, leading to a decrease in cost per unit as output increases.
Learning-by-doing
An economic concept that suggests productivity and efficiency improve through practice and the accumulation of experience.
Spreading the Overhead
The practice of distributing fixed costs over a variety of products, projects, or business units to ensure efficiency and reduce the overall cost per unit.
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.
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