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Answer :
When there is a reduction of costs when a producer invests in multiple markets or a larger breadth of operations, the producer is experiencing economies of scale.
Economies of scale occur when a company can produce goods or services at a lower cost per unit due to increased production levels. This cost reduction can result from various factors, including spreading fixed costs over a larger volume of output, achieving operational efficiencies, or benefiting from specialized knowledge and expertise in different markets.
By expanding their operations and entering multiple markets, producers can lower their average costs and enhance their competitive advantage, ultimately leading to increased profitability and long-term success.
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