Examlex
List and describe the components of a feedback loop.
Average Total Cost
The total cost of production divided by the quantity of output produced.
Economies of Scale
Enterprises achieve cost benefits from their operation size, resulting in a reduction of cost per output unit as the scale expands.
Average Variable Cost
The total variable costs divided by the quantity of output produced; it fluctuates with production volume.
Line Segment AB
A part of a line that is bounded by two distinct end points, A and B, and contains every point on the line between A and B.
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