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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Give an arithmetical example to illustrate economies of scale.

To determine

Illustrate an arithmetic explanation for economies of scale.

Explanation

In a market, when X has 10 units and Y has 10 units to produce 50 units of Z. If both X and Y double to 20 units, it more than doubles the output of Z to 150 units. Thus, if the input increases by smaller percentage, the output increas...

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