Examlex
After a response has been extinguished, it will often reappear after a short time has passed. This is referred to as a(n)__________.
Opportunity Costs
The missed opportunity to benefit from different options when a single choice is made.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Diseconomies of Scale
The phenomenon where an increase in production leads to higher costs per unit due to inefficiencies that arise from scaling up operations.
Increasing Returns
An increase in a firm’s output by a larger percentage than the percentage increase in its inputs.
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