Examlex
Technician A says that a manual transmission utilizes a flywheel and an automatic transmission utilizes a flexplate. Technician B says that a flexplate can be lighter than a flywheel. Who is correct?
Fixed Cost
This is a cost that does not change with an increase or decrease in the amount of goods or services produced or sold.
Diminishing Returns
An economic principle stating that adding an additional factor of production results in smaller increases in output after a certain point.
Marginal Output
The additional quantity of output that is produced by using one more unit of a given input.
Negative Returns
Occurs when a company or investment loses more money than it earns or when costs exceed revenues.
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