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Economies of scale

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Definition Edit

Economies of scale refers to

[r]eductions in unit cost of output resulting from the production of additional units stem from increased specialization of labor as volume of output increases; decreased unit costs of materials; better utilization of management; acquisition of more efficient equipment; and greater use of byproducts.[1]

References Edit

  1. Defense Acquisition University, Glossary, at B-60 (13th ed. Nov. 2009) (full-text).

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