Economies of Scale and Size

Svend Rasmussen ()
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Svend Rasmussen: University of Copenhagen

Chapter 11 in Production Economics, 2013, pp 111-120 from Springer

Abstract: Abstract The two concepts economies of scale and economies of size describe what happens to production or costs when the size of the firm changes (increases). Economies of scale describe how much production increases when the firm increases its scale of production, i.e. increases all (both fixed and variable) inputs by a common proportionality factor. Economies of size describe what happens to cost per unit of output when production increases in a cost minimising way.

Keywords: Production Function; Optimal Size; Constant Return; Cost Curve; Fixed Asset (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-642-30200-8_11

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DOI: 10.1007/978-3-642-30200-8_11

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