Examlex
According to evolutionary theorists, high levels of inequality may undermine motivation and productivity.
Barrier To Entry
Elements that create barriers or obstacles, making it difficult for new entrants to join a particular market or business sector.
Economies Of Scale
Cost advantages reaped by companies when production becomes efficient, as the scale of operation increases leading to a reduction in average costs.
Long-Run Average Cost
The average cost per unit of output when all inputs, including capital, are variable and optimized.
Marginal Revenue
The increase in revenue resulting from the sale of one additional unit of product.
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