Examlex
When a person has multiple "social identities," including more than one "minority" identity, how will these different identities impact behaviors?
Average Total Cost
The total cost divided by the quantity produced, indicating the cost to produce each unit of output.
Resource Prices
The cost associated with acquiring resources necessary for production, including raw materials, labor, and capital.
Increasing-Cost Industry
An industry where production costs begin to rise as the industry's output expands, often due to resource limitations or increased prices of inputs.
Minimum Long-Run ATC
The lowest point on the Average Total Cost curve when a firm operates in an efficient scale over the long term.
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