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Follow-Up Research on Preoperational Thought Indicates That

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Follow-up research on preoperational thought indicates that


Definitions:

Average Increasing

A situation in which the average cost of production goes up as the quantity produced increases.

Long-run Average Total Cost

The average cost per unit of output produced over a period during which all inputs, including capital, are variable.

Diseconomies of Scale

The situation in which a business experiences an increase in average costs per unit when output is increased beyond a certain point.

Economies of Scale

The economic benefits gained by companies because of their large scale of operation, which typically results in a lower cost per unit of output as the scale increases.

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