Examlex
Factor the expression completely. If the expression is prime, so indicate.
Economies of Scale
The cost advantages that a business can exploit by expanding their scale of production, leading to a lower cost per unit.
Diseconomies of Scale
Increased costs per unit that occur when a company grows too large, leading to inefficiencies.
Long-Run Average Cost Curve
A graphical representation showing the minimum cost per unit at which a firm can produce any given level of output in the long run when all inputs are variable.
Diseconomies of Scale
The phenomenon where, as a firm becomes too large, its costs per unit increase due to inefficiencies, leading to a decrease in overall productivity or cost-effectiveness.
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