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Economies
The large set of interrelated production and consumption activities that aid in determining how scarce resources are allocated.
Diseconomies
Circumstances where increasing the scale of production leads to higher per-unit costs, often due to inefficiencies gained at larger scales.
Average Total Costs
The average cost per unit is calculated by dividing the entire production cost by the quantity of units produced.
Total Fixed Costs
The sum of all costs that remain constant in total amount regardless of changes in the level of production or output.
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