Examlex
Compare the imperial structures of the Han and Roman empires and analyze how the imperial structures related to social hierarchies in each society.
Economies of Scale
Cost advantages reaped by companies when production becomes efficient, leading to a decrease in the cost per unit as output increases.
Outputs
The goods or services produced by a business or an economy.
Long-run Average Cost
The per unit cost of production when all inputs, including those typically fixed, can be adjusted.
Short-run Marginal Cost
The cost incurred by producing one additional unit of a product or service in the short term, where some factors of production are fixed.
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