Examlex
The internal urethral sphincter is composed of which arrangement and type of muscle fibers?
1) circular
2) longitudinal
3) oblique
4) smooth
5) skeletal
X-Inefficiency
A situation in which a firm fails to utilize its resources efficiently because of a lack of competitive pressure.
Average Total Costs
The total cost of production divided by the quantity produced, representing the per-unit cost of producing a good or service.
Economies Of Scale
Operational scale increases lead to cost efficiencies for businesses, prominently reflecting in reduced production costs per unit as the amount of output grows.
Diseconomies Of Scale
The situation when a firm’s average total cost of producing a product increases in the long run as the firm increases the size of its plant (and, hence, its output).
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