Examlex
What are the two main types of VIII nerve neurons?
Natural Monopoly
A market structure where a single supplier is most efficient in producing or providing goods or services due to high fixed or startup costs, making competition less viable.
Long-Run Average Total Cost
The average cost per unit of output over the long term, where all inputs are variable and economies of scale have been utilized.
LRATC
Long Run Average Total Cost, which represents the per-unit cost of production when all factors of production are variable, and scale of production can be adjusted.
Diseconomies of Scale
occur when a company or business grows so large that the costs per unit increase, causing efficiency to decrease.
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