Economies of Scale Exist If Average Costs Are Lower at Higher

question 184

Essay

Economies of scale exist if average costs are lower at higher levels of production. What actions can be taken by firms that result in economies of scale?

---

Definitions:

Policies

Established guidelines, rules, or procedures designed by organizations or governments to guide decisions and achieve rational outcomes.

Sexual Identity

Sexual identity refers to how individuals perceive themselves and what they call themselves based on whom they are attracted to emotionally and sexually.

Social Influences

The effects that the people in one's life have on their behaviors, beliefs, and attitudes.

Gene

A unit of heredity that is transferred from a parent to offspring and is held to determine some characteristic of the offspring.