a) Economies of scale

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4 Terms

1
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  • economies of scale

  • diseconomies of scale


  • cost advantages gained when a firm grows larger

  • cost disadvantages gained when a firm grows too large


2
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  • increasing returns to scale

  • constant returns to scale

  • decreasing returns to scale


  • increase in input < increase in output

  • increase in input = increase in output

  • increase in input > increase in output


3
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  • n/a


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4
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