Businesses can achieve economies of scale through various strategies: - Investing in Technology: Automating production processes can increase efficiency and reduce costs. - Bulk Purchasing: Buying materials in bulk can reduce the cost per unit due to supplier discounts. - Optimizing Supply Chain: Streamlining the supply chain can reduce costs and improve efficiency. - Mergers and Acquisitions: Combining with or acquiring other companies can lead to shared resources and cost savings. - Standardizing Products: Producing standardized products in large quantities can lower production costs.