Economies of scale

economies of scale  Economies of scale can be defined as: 'the reduction in average costs of production that occur as a business increases its scale of production' Costs in the In this video I explain the idea of what happens to output and costs in the long-run I cover two

Economies of scale refer to the cost advantage experienced by a firm when it increases its level of output The advantage arises due to the inverse relationship External economies of scale External economies of scale result from external factors outside the company's control, such as the industry,

Risk-bearing economies of scale As a firm becomes larger, it's able to grow their product range This allows them to diversify their risk as they are not This video looks at the concept os economies and diseconomies of scale! If you enjoyed the