Examlex
What is the connection between the amount of silica in a melt and how viscous it is?
Output
The total value of goods and services produced by an economy over a specific time period.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Corporate Bureaucracy
The administrative system governing any large institution or organization, characterized by a hierarchy of authority, rigid division of labor, and strict regulations and procedures.
Average Fixed Cost
The fixed costs of production divided by the quantity of output produced, showing the cost of each product unit excluding variable costs.
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