Examlex
Identify the term as having a singular or plural ending with the example provided.Note: Answers may be used more than once.
-Vertebrae
Average Costs
The total costs of production divided by the number of units produced, representing the cost per unit.
Returns To Scale
The change in output resulting from a proportional change in all inputs in the production process; can be increasing, constant, or decreasing.
Increasing Returns To Scale
See Economies of scale.
Economies Of Scale
Exist when average costs fall as output increases.
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