Examlex
What is a multinational corporation (MNC)? Discuss two MNCs you are familiar with.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, characterized by a reduction in average cost per unit when output is increased.
Diseconomies of Scale
The phenomenon where production costs per unit increase as the volume of output increases.
Constant Returns to Scale
A situation in economics where increasing the inputs in production proportionately increases the output.
Constant Returns to Scale
The situation where an increase in all inputs by a certain factor leads to an increase in output by the same factor, showing linear scalability in production.
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