Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
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Economies of Scale * This is the cost advantage that a business obtains due to expansion. * That is the factor that cause the average cost of producing a product to fall‚ as output of the product rises as explained in the ‘Dictionary of Economics’. * By achieving economies of scale‚ a company would have the cost advantage over its existing and new rivals. * Further‚ the company could achieve lower long run average cost (i.e. productive efficiency). But if technology changes‚ this
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in an oligopoly is economies of scale. Economies of scale generally refer to the cost advantages that will be associated with large organizations. Margaretta (2012‚26) suggests that companies pursue economies of scale in the belief that this will be decisive in determining a competitive advantage and increased profitability. Woolworths enjoys significant economies of scale in relation to its competitors. In the supermarket industry‚ benefits of economies of scale is usually achieved by buying products
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Grading Scale 2 Robert Hernandez English 102 Research paper Grading Scale Anyone who has attended a high school or college will readily say that one of the most stressful aspects of the entire experience is grades. Students will loose hours of sleep per night poring over textbooks‚ clutching a pen in one hand and a mug of Starbucks coffee in the other. They soon foster an obsession with achieving and maintaining perfect grades to the point where anything that earns less than "A" is a disgusting
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Economies of scale are the factors that lead to a reduction in average costs as a business increases in size. There are five economies of scale Purchasing Economies When businesses buy large numbers of components‚ for example materials or spare parts‚ they are able to gain discounts for buying in bulk. This reduces the unit cost of each item bought and gives the firm an advantage over smaller businesses which buy in small quantities. Marketing Economies
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INSTRUMENT FOR SCORING SECOND LANGUAGE WRITING SKILLS James Dean Brown Florida State University Kathleen M. Bailey Monterey Institute of International Studies This paper first reviews recent research on evaluating second language learners’ writing skills. It then discusses research on a categorical instrument for evaluating compositions written by upper intermediate university ESL students. The form of the instrument used in this study included five equally weighted criteria for scoring: ( I ) Organization
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The pH Scale is a scale made to show how acidic or alkaline a substance is. The pH of something is measured with pH paper which can vary from wide range paper‚ which covers all ph’s‚ but is not as accurate at some others. There are pH papers that get very specific that can have a range such as 2 or 3 and get much more precise. The neutral on the scale is 7. Anything that is below 7 is considered acidic and anything above 7 is considered alkaline. Acidic substances contain more H+ than OH-. H+
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INTRODUCTION Smart Grid is sophisticated‚ digitally enhanced power systems where the use of modern communications and control technologies allows much greater robustness‚ efficiency and flexibility than today’s power systems. The American Electric Power Research Institute (EPRI)‚ an advocator of building the smart grid‚ gave this grid a definition with self-healing‚ security‚ integration‚ collaborative‚ forecast‚ optimization and interaction. While European commission define it as : A grid which could
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on Smart Grids 1) How do smart grids differ from the current electricity infrastructure in the United States? The main difference where the smart grids differ from the current electricity infrastructure in the United Sates is that there is no information currently available as to how much energy/electricity is being used and where it is being used. In simple words it can be said that currently there is no exchange of information between the provider and the consumer. The smart grids will be
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Living in Sin is a poem that I feel encompasses the majority of young unguided women today. The type of woman I speak of‚ are the ones with the dreams of fairy tales and magic. Stories of love and happy endings. The unrealistic‚ with never a thought of anything other than that things are perfect and if they are not then they will eventually be. Such as the character in the poem‚ if she could tell her story before the poem‚ what would it be? That she wanted love? Maybe she wanted happy ending with
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