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As the quantity produced increasesthe cost of per unit production decreases.Select one:a.Product Differentiationb.Capital Requirementsc.Government Regulationsd.Economies of Scale

Question

As the quantity produced increasesthe cost of per unit production decreases.Select one:a.Product Differentiationb.Capital Requirementsc.Government Regulationsd.Economies of Scale

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Solution

The correct answer is d. Economies of Scale. This economic concept refers to the cost advantage that a business obtains due to expansion. As the quantity of production increases, the cost of producing each unit decreases. This is because the fixed costs,

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