A fishing company was formed in Juneau, Alaska. Over the next decade, a canning plant, a processing plant, and a boat repair facility also opened in Juneau. This is an example of:

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There are different kinds of operations in a firm. This is an example of industry economies of scale.

What Are Economies of Scale?

Economies of scale are referred to as the cost benefits gotten  by firms when production is said to be efficient.

Often times, firms are known to achieve economies of scale through the act of increasing production and also lowering costs of goods and services. This happens due to the fact that costs are shared to a larger number of goods.

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