Examlex
Which of the following apply to the small intestine?
Average Cost
The total cost of production divided by the total quantity produced, representing the cost per unit of output.
Diminishing Marginal Productivity
A principle in economics that indicates that as one inputs more of a factor of production while holding other factors constant, the additions to output will eventually decrease.
Output
The quantity of goods or services produced in a given period by a firm, industry, or country.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, typically characterized by a reduction in per-unit cost with increasing output.
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