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Economies of Scale means reduction in
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- unit cost of production
- unit cost of distribution
- total cost of production
- total cost of distribution
- unit cost of production
Correct Option: A
In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion. “Economies of scale” is a long run concept and refers to reductions in unit cost as the size of a facility and the usage levels of other inputs increase.
