Examlex
What causes employees to be satisfied with their jobs?
Short-run Cost Function
A representation of the total cost associated with production, considering some inputs are fixed.
Average Total Cost
The total cost of production divided by the number of units produced, including both fixed and variable costs.
Robot Hours
The amount of time robots are operational and performing tasks in place of human labor.
Cost-output Elasticity
Cost-output elasticity measures the responsiveness of the cost of production to changes in the quantity of output produced, indicating the scale economies in production.
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