Examlex
When installing air conditioning equipment, if wire is used that is larger than needed, it will cause excessive voltage drop and damage the equipment.
Efficiently Allocated
A situation wherein resources are distributed in such a way that maximizes the net benefits gained from their use, leaving no opportunity to make someone better off without making others worse off.
Marginal Cost
The cost incurred from producing one more unit of a good, reflecting changes in production expense with output variation.
Average Variable Cost
The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.
Industry Expands
The growth phase of an industry characterized by an increase in output, number of producers, or production capacity.
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