Examlex
All the planets orbit the Sun in exactly the same plane as the Earth.
Diminishing Returns
A rule which posits that when investment in a specific sector grows, the profit rate from that investment will not continue to rise past a certain threshold if all other factors are kept unchanged.
AVC
Average Variable Cost is the total variable cost per unit of output.
ATC
Average Total Cost; the per-unit cost of production, calculated by dividing the total cost by the quantity of output produced.
Marginal Output
The additional output that results from increasing the production input by one unit.
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