cause movement along the long run average cost curve
external
market as a whole
causes a shift in the in the long run average cost curve
Internal economies of scale
the benefits a firm enjoys in terms of falling average costs when there is an increase in the size of the firm itself
internal diseconomies of scale
the drawbacks a firm can face when the size of the firm is increasing and becoming too big. diseconomies of scale results in average costs beginning to rise
external economies of scale
benefits in terms of falling average cost a firm enjoys when the market/industry they are in grows
external diseconomies of scale
drawbacks in terms of rising average costs a firm experiences when the market/industry they are in grows
