Examlex
Utilization is defined as the ratio of effective capacity to design capacity.
Claim Forms
Claim Forms are documents used in the healthcare industry by patients or providers to request payment or reimbursement from health insurance companies for services rendered.
Long Run
A period wherein all factors of production and costs are variable, allowing firms to adjust all inputs to reach a desired output level.
Short Run
The short run in economics is a period during which at least one factor of production is fixed, limiting the ability of businesses to adjust to market changes fully.
Average Fixed Cost
The fixed costs (costs that do not vary with output) divided by the quantity of output produced.
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