Examlex
Expertise and experience of organizational members that has not been formally documented best describes
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.
Average Cost Curve
A graphical representation that illustrates the cost per unit of output at different levels of production.
Long-run
A period in economics where all factors of production can be varied, and there are no fixed inputs, allowing full adjustment to changes.
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