Examlex
Congress has chosen to exclude many sources of income from taxation even though it has the authority to tax income from whatever source derived.
Diseconomies of Scale
The phenomenon where an increase in production leads to higher costs per unit due to inefficiencies that arise from scaling up operations.
Increasing Returns
An increase in a firm’s output by a larger percentage than the percentage increase in its inputs.
Diminishing Returns
A principle stating that after a certain point, additional investment or effort yields progressively smaller increases in output.
Marginal-cost Curve
The marginal-cost curve represents how the cost of producing one additional unit of a good changes as its production volume varies.
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