Examlex
Discuss the factors that influence voter turnout in the United States. Which groups are most likely to vote? Least likely?
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Output
The total amount of goods or services produced by a company, industry, or economy within a specific period.
Labor
The human effort, including physical and mental efforts, used in the production of goods and services.
Average Total Cost Curve
A graphical representation showing a firm's total costs divided by output at various levels of production.
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