How do you explain economics of large-scale production? Who do certain businesses, such as cigarette manufacture,...

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Economics

How do you explain economics of large-scale production? Who docertain businesses, such as cigarette manufacture, seem to enjoythem, whereas other businesses, such as barbering do not?

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The production scale refers to the quantity of factors used the quantity of products produced and the production techniques adopted by a producer The size of production grows as production increases with the rise in the amounts of land labor and capital A business may carry out production on a small scale or on a large scale The size of production is said to be small when a company operates by using less resources and small quantities of other output factors On the other hand a corporation is said to be working on a large scale using more capital and smaller amounts of other variables An industrys production rate increases with the See Answer

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How do you explain economics of large-scale production? Who do certain businesses, such as cigarette manufacture,...

50.1K

Verified Solution

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Economics

How do you explain economics of large-scale production? Who docertain businesses, such as cigarette manufacture, seem to enjoythem, whereas other businesses, such as barbering do not?

Answer & Explanation Solved by verified expert

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