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Increasing Returns To Scale
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Summary
When a company makes more of something, it can get better at it and make each one for less money. This is like when you make a lot of cookies and you get faster and use less dough each time.
Concepts
Economies Of Scale
Production Function
Marginal Cost
Efficiency
Cost Structures
Output Levels
Factor Inputs
Long Run
Relevant Degrees
Economic Theory and Concepts 70%
Economic Planning and Policy 30%
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