Examlex
________ is another word for "witch."
Economies of Scale
The financial advantages achieved by companies through their operational size, with unit costs usually dropping as the scale of production increases.
Average-Fixed-Cost Curve
A graphical representation showing how the fixed cost per unit changes with changes in the volume of production.
AVC Curve
The Average Variable Cost (AVC) curve represents how the per-unit variable cost of production changes as the quantity of output changes.
ATC Curve
The average total cost curve, which plots the per-unit total cost of producing goods at different levels of output.
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