Examlex
When we speak of the large- scale structure of the universe, we mean .
Outputs
The goods or services produced by a business or an economy.
Long-run Average Cost
The per unit cost of production when all inputs, including those typically fixed, can be adjusted.
Short-run Marginal Cost
The cost incurred by producing one additional unit of a product or service in the short term, where some factors of production are fixed.
Envelope
In economics, often describes a theoretical outer limit or boundary, such as the envelope curve which envelopes all the possible positions of equilibrium.
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