One of the students of your university sets up a lemonade cart stand on the Infront of your university street. Temperature in the area climb to 40 degree during the summer. The intersection or the main customer is near majors two university, different industrial worker, and a large construction site like R&HD. Explain to this young entrepreneur how their business might benefit from economies of scale. Explain also some conditions that might lead to diseconomies of scale.

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Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.