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Does additive manufacturing rely on economies of scale to deliver low costs? What are two ways in...

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Does additive manufacturing rely on economies of scale to deliver low costs? What are two ways in which additive manufacturing lowers costs?

Production

Economies of scale can be attained by large firms that have a huge production capacity. Generally, a firm that is functioning as a monopoly is able to attain economies of scale. For example, a local water supplier that meets the demand for an entire locality.

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Economics of scale refers to the cost advantage received by the sellers on producing bulk quantities. As the number of units of output produced...

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Production Function in Economics: Definition, Formula & Example

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Chapter 11 / Lesson 27
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Learn about the production function. Read the production function definition in economics, learn the production function formula. Plus, see graphs and examples.


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