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You make a new acquaintance at a football game, and you ask him only questions about sports and athletics. This is an example of probable
Diminishing Returns
A principle stating that if one factor of production is increased while others are held constant, the incremental output will eventually decrease.
Scale
The size or level of something, often used to describe the scope of a business operation or production.
Increasing Returns
A situation in production where the output increases by a proportion greater than the increase in inputs, often leading to economies of scale.
Input Prices
The prices of the raw materials, components, or services that are used to produce a final product or service.
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