Examlex
All of the following are examples of products or services that satisfy a consumer need except which?
Diminishing Returns
A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase and may decrease.
Natural Monopoly
A market structure where a single provider is more efficient in supplying the entire market with a product or service, due to high fixed or startup costs.
Average-Cost Curve
The average-cost curve represents the total cost of production divided by the quantity of output produced, showing how the average cost per unit of product changes with changes in output level.
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