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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 22

6.4 Scale, scope and learning

One idea · follow the reasoning · then practise1 / 9

01

How do scale, scope, and learning lower cost through different mechanisms?

Logs and rocks flow into a factory and emerge as wooden pieces and a chair, with stacks of coins below
VISUAL NOTE · Production and cost Costs can fall through three distinct mechanisms

Did costs fall because of current scale, joint production or accumulated experience?