Examlex
Which of the following illustrates how humans are using fog as a resource?
Diseconomies of Scale
A phenomenon where an increase in production leads to higher average costs per unit due to inefficiencies, often occurring when companies become too large.
Average Total Cost
The total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.
Marginal Cost Curve
A graph that shows the change in the total cost of producing one additional unit of a good or service.
Diminishing Marginal Product
The principle that as additional units of a variable input are added to a fixed input, the additional output produced from each new unit decreases.
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