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ECONOMICS
Asked by Alex

Can someone define econonies of scale and give an example?

Economies of scale is when a company is able to buy more for less. What does this mean? The bigger the company, the more financial power they have. So if you think about bulk buying (a type of economies of scale) you鈥檙e buying a lot of units at a rate that鈥檚 less than if you were to buy those units individually. Feel free to ask anything if that doesn鈥檛 make sense 馃憤馃徏

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