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Economics and the 2008 crisis: a Keynesian view
Economics and the 2008 crisis: a Keynesian view

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Economies of scale

Sources of economies of scale can be divided into different types. These types relate to how the activities of the firm are organised in order to reduce the average cost of production as output increases. Broadly, there are three sources of internal economies of scale; two you have met already: economies of increased dimensions, and specialisation. Now we will introduce one more: indivisibilities.