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Explain Why It Is a Good Idea for an Electrician

question 3

Essay

Explain why it is a good idea for an electrician to wear safety shoes with a nonconductive toe on the job site.


Definitions:

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for full industry adjustment to changes.

Extensive Range

A wide scope or variety of something, covering a broad spectrum.

Constant Returns to Scale

A situation in which increasing the scale of production inputs results in a proportional increase in the output.

Long-run Average Total Cost

The cost per unit of output incurred when all factors of production, including physical capital, are variable.

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