How do Economies of Scope and Economies of Scale Differ?

economy of scale Economies of scale provide larger companies with a competitive advantage over smaller ones, because the larger the business, the lower its per-unit costs

Economies of scale occur when the average cost of all units declines as the level of an activity, such as production, increases The average cost decline kickoff999 Walmart is another example of a company that benefits from economies of scale By operating a large number of stores and purchasing goods in large quantities,