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Discuss the basic reinforcement schedules.
Diseconomies Of Scale
An increase in average total cost as output rises.
Monopoly
A market structure characterized by a single seller who has exclusive control over a product or service, with no close substitutes.
Natural Monopoly
A market situation where the most cost-efficient production level is achieved by a single firm due to high fixed or start-up costs, making it impractical for new entrants.
Marginal Cost
The change in total cost that arises when the quantity produced is incremented by one unit.
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