Examlex
According to research, why might a woman decide not to run for office?
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Demand Curves
Visual diagrams that illustrate the connection between a product's price and the amount consumers are willing to buy.
MC = MR
An economic principle that firms reach the optimal level of production when marginal cost equals marginal revenue.
Downward-Sloping
Describes a curve or line on a graph that shows a decrease in a variable (e.g., price) leading to an increase in another variable (e.g., quantity demanded), typically observed in demand curves.
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