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Economies of scale is related to and can easily be confused with the theoretical economic notion of returns to scale. Where economies of scale refer to a firm's costs, returns to scale describe the relationship between inputs and outputs in a long-run (all inputs variable) production function.
Natural monopoly, a monopoly in which economies of scale cause efficiency to increase continuously with the size of the firm. Oligopoly, in which a market is dominated by a small number of firms which own more than 40% of the market share. Oligopsony, a market dominated by many sellers and a few buyers.
The opposite condition may be referred to as negative economies (or diseconomies) of scale. If Y has a single output and prices are positive, then positive economies of scale are equivalent to increasing returns to scale. As with returns to scale, economies of scale may apply over a region.
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For example, if you weigh 150 pounds, that’s at least 52.5 grams of protein daily. But here’s the catch:, Building muscle requires eating significantly more protein than just maintaining the ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Fashion labels such as Louis Vuitton and Hermès - which sells a Birkin 35 croc handbag for as much as A$800,000 ($500,000; £398,000) - have all invested in the industry.