Examlex
What is coming out?
Annual Output
The total production or quantity of goods and services produced by a company or economy in one year.
Economies of Scale
The cost advantage achieved by an increase in production, leading to a decrease in the average cost per unit through efficient allocation of resources and spreading of fixed costs.
Cost-output Elasticity
The ratio of the percentage change in cost relative to the percentage change in output, indicating how costs change with output levels.
Marginal Cost
The cost associated with producing one additional unit of a product.
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