Examlex
At approximately what age do children start using their thumbs to aid them in grasping objects?
Decreasing Returns to Scale
A situation in which, when the scale of production is increased, the output increases at a proportionally lower rate.
Minimum Efficient Scale
The smallest level of production a company can achieve while still taking full advantage of economies of scale in terms of costs per unit.
Long-Run Average Cost Curve
A graphical representation showing the lowest average cost of producing any output level when all inputs can be varied.
Plant Size
Plant Size pertains to the capacity or physical dimensions of a manufacturing or production facility.
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