Examlex
Follow-up research on preoperational thought indicates that
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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