Examlex
What is associated with the third long-lasting component of LTP?
Plant Size
The capacity or physical extent of a manufacturing facility, including its machinery, layout, and workforce.
Economies of Scale
Competitive edge gained by firms through efficient production methods, leading to a reduction in the cost for each unit produced as the scale of production grows.
Natural Gas Pipeline
A system of pipes that transports natural gas from its source to the consumers or to a processing plant.
Diminishing Returns to Scale
A situation where, as more inputs are used, the incremental increase in output decreases.
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