Economies of scale are the cost advantages that result from increasing the scale of production or operation. In cloud computing, economies of scale are achieved by pooling resources and sharing them among multiple users, which reduces the unit cost of computing and storage. One of the benefits of economies of scale in cloud computing is increased speed and agility, which means the ability to deploy applications faster and respond to changing business needs more quickly. Cloud computing allows users to access computing resources on demand, without having to invest in expensive infrastructure or wait for lengthy provisioning processes. This enables users to scale up or down as needed, experiment with new ideas, and deliver value to customers faster123. References:
Economics of Cloud Computing - GeeksforGeeks
What is Cloud Economics? | VMware Glossary
ECONOMIES OF SCALE WITH CLOUD COMPUTING & SERVICES PRACTICE - IDC-Online
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