Examlex
_______ are inorganic nutrients ingested in the form of salts dissolved in food and water.
Natural Monopoly
An industry in which economies of scale are so great that a single firm can produce the industry’s product at a lower average total cost than would be possible if more than one firm produced the product.
Unit Costs
The expense a business incurs to manufacture, warehouse, and distribute a single unit of a specific product or service.
Entire Output
The total amount of goods or services produced by a company, industry, or country within a specific period.
Economies of Scale
Cost advantages reaped by companies when production becomes efficient, leading to a decrease in cost per unit as output increases.
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