Examlex
People have been shown to give different responses to surveys if the word "banned" is used in a question than if "not allowed" is used. The difference is primarily a matter of
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.
Diseconomies of Scale
The phenomenon where production costs per unit increase as a firm's output expands, often due to inefficiencies that arise from becoming too large.
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.
Average Total Cost
The total cost of production divided by the quantity of output produced; it includes all variable and fixed costs.
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