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Two imaginary spherical surfaces of radius R and 2R respectively surround a positive point charge Q located at the center of the concentric spheres. When compared to the number of field lines N1 going through the sphere of radius R, the number of electric field lines N2 going through the sphere of radius 2R is
Production Function
Function showing the highest output that a firm can produce for every specified combination of inputs.
Annual Output
The total production or quantity of goods and services produced by a company or economy in one year.
Economies of Scale
The cost advantage achieved by an increase in production, leading to a decrease in the average cost per unit through efficient allocation of resources and spreading of fixed costs.
Cost-output Elasticity
The ratio of the percentage change in cost relative to the percentage change in output, indicating how costs change with output levels.
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