Term for Identification:  "Freedom Ride"​

question 53

Short Answer

Term for identification:  "freedom ride"​

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Definitions:

Diseconomies of Scale

A phenomenon where a company's production costs increase due to an expansion in output, leading to inefficiencies.

Fixed Costs

Expenses that do not change with the level of output or sales, such as rent, salaries, and insurance.

Diseconomies of Scale

The phenomenon where production cost per unit increases as the scale of output increases, usually due to factors like increased complexity and inefficiencies.

Long-run Average Total Cost

The per unit cost of production when all inputs, including capital, are variable, typically depicting economies and diseconomies of scale.