How do economies of scale impact nanotechnology costs?
Economies of scale can significantly reduce the cost of nanotechnology production. As production volume increases, the average cost per unit decreases due to more efficient use of equipment, bulk purchasing of materials, and streamlined manufacturing processes. However, achieving economies of scale in nanotechnology is challenging due to the complexity of scaling up from laboratory to industrial production. Innovations in mass production techniques and greater industry collaboration can help overcome these challenges and reduce overall costs.
