Examlex
Who is one of the first gay men of color working as a news anchor?
ATC
Average total cost, which is the total cost of production divided by the quantity of output produced, encompassing both fixed and variable costs.
Economies Of Scale
Companies achieve cost benefits when their production processes become more efficient, leading to a decrease in the per-unit cost as the scale of production grows.
Pin Factory
An example used by Adam Smith to illustrate how division of labor increases productivity.
ATC Curve
Average Total Cost Curve, a graph that shows the cost per unit of output produced, plotted against the quantity of output.
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