Examlex
Why is conscientiousness a strong predictor of longevity?
Diseconomies of Scale
occur when a company or business grows so large that the costs per unit increase, causing efficiency to decrease.
Real Cost
The total cost of producing a good or service, including all resources consumed and opportunity costs, in contrast to its financial cost.
Law of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other factors remain constant.
LRATC
Long-Run Average Total Cost, referring to the average cost per unit of output when all inputs are considered variable over time.
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