Examlex
_____ is the single best indicator of social class.
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced, illustrating how fixed costs spread over units decrease with increased production.
Antitrust Action
Legal measures taken by governments to prevent or reduce monopolies and promote competition among businesses.
Economies of Scale
Cost advantages that businesses obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Competitive Industry
An industry characterized by many firms competing against each other, with low barriers to entry and products that are similar but not identical.
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