Examlex
If continuous spectrum light from a star passes through a cool, low-density gas on its way to your telescope and spectroscope, ____ spectrum on the continuous spectrum results.
Diminishing Marginal Returns
The principle that as an additional unit of a factor of production is added to a fixed amount of other factors, the increase in output will eventually decrease.
Variable Inputs
Refers to inputs used in production that can be adjusted in the short term to meet changes in output levels, such as labor or raw materials.
Returns To Scale
A concept in economics that describes how a proportionate increase in all inputs affects the level of output.
Variable Cost
A cost that increases when the firm increases its output and decreases when the firm reduces its output.
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