Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
Premium Economics of production Microeconomics Costs
Economies of Scale * This is the cost advantage that a business obtains due to expansion. * That is the factor that cause the average cost of producing a product to fall‚ as output of the product rises as explained in the ‘Dictionary of Economics’. * By achieving economies of scale‚ a company would have the cost advantage over its existing and new rivals. * Further‚ the company could achieve lower long run average cost (i.e. productive efficiency). But if technology changes‚ this
Free Economics Economics of production
Michele Hindmarsh mhindma@my.wgu.edu Student ID# 000383032 MLT1 – Experiment 5; Task 6 Differential Staining Heidi Atkinson‚ MS Lab Experiment #5-Differential Staining Through the process of differential staining‚ there are distinct differences between the cell walls of gram-positive and gram-negative bacteria. In the case of gram-positive bacteria‚ the cell wall is comprised of 60-90% peptidoglycan and is very thick. There are numerous layers of teichoic acid bound with peptidoglycan
Premium Bacteria Gram staining Staining
Differential Pricing: Many important industries involve technologies that exhibit increasing returns to scale‚ large fixed and sunk costs‚ and significant economies of scope. Two important examples of such industries are telecommunications services and information services. In each of these cases the relevant technologies involve high fixed costs‚ significant joint costs and low‚ or even zero‚ marginal costs. Setting prices equal to marginal cost will generally not recoup sufficient revenue to cover
Premium Marketing Economics Marginal cost
in an oligopoly is economies of scale. Economies of scale generally refer to the cost advantages that will be associated with large organizations. Margaretta (2012‚26) suggests that companies pursue economies of scale in the belief that this will be decisive in determining a competitive advantage and increased profitability. Woolworths enjoys significant economies of scale in relation to its competitors. In the supermarket industry‚ benefits of economies of scale is usually achieved by buying products
Premium Supermarket Marketing Economics
Grading Scale 2 Robert Hernandez English 102 Research paper Grading Scale Anyone who has attended a high school or college will readily say that one of the most stressful aspects of the entire experience is grades. Students will loose hours of sleep per night poring over textbooks‚ clutching a pen in one hand and a mug of Starbucks coffee in the other. They soon foster an obsession with achieving and maintaining perfect grades to the point where anything that earns less than "A" is a disgusting
Premium High school Sleep
Economies of scale are the factors that lead to a reduction in average costs as a business increases in size. There are five economies of scale Purchasing Economies When businesses buy large numbers of components‚ for example materials or spare parts‚ they are able to gain discounts for buying in bulk. This reduces the unit cost of each item bought and gives the firm an advantage over smaller businesses which buy in small quantities. Marketing Economies
Premium Business Management Small business
The pH Scale is a scale made to show how acidic or alkaline a substance is. The pH of something is measured with pH paper which can vary from wide range paper‚ which covers all ph’s‚ but is not as accurate at some others. There are pH papers that get very specific that can have a range such as 2 or 3 and get much more precise. The neutral on the scale is 7. Anything that is below 7 is considered acidic and anything above 7 is considered alkaline. Acidic substances contain more H+ than OH-. H+
Premium PH Acid Base
information lasts up to 60 seconds or moved on to our long term memory which can last a lifetime. Therefore‚ emotions take a part on whether the information we receive becomes a long term memory. In the article “Forgetting the Unforgotten Affective Autobiographical Memories in Nonclinical Dissociators” the researchers wanted to find out if a person scores high on the Dissociative Experience Scale (DES) if it will reduce the retrieval-induced forgetting (RIF) or not. The same was for a person who scored
Premium Emotion
Motivation and Emotion Motivation: Motive: An emotion‚ desire‚ physiological need and or similar impulse that acts as an encouragement to action. Motivation is the driving force by which humans achieve their goals. It is an internal state that activates and gives direction to thoughts‚ feelings and action. Types and Nature of Motives: Intrinsic motivation: Internal desire to perform a particular task. For example‚ pleasure‚ mastery etc. Before to be intrinsically motivated‚ one must satisfy
Premium Motivation Emotion Psychology