Theodore Wright

Theodore Wright was an American engineer and economist known for developing the concept of "unit costs" in manufacturing, which measures the cost to produce one item. He also created the "Wright Model," a mathematical way to analyze how producing more units can lower overall costs—an idea called economies of scale. His work helps businesses understand how increasing production can reduce per-unit expenses, leading to more efficient manufacturing and pricing strategies. Wright’s insights have had a lasting impact on industrial engineering, cost management, and economic analysis of production processes.