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What is the relative ratio of height to wavelength in a tsunami?
Economies of Scale
The cost advantage achieved by businesses when production becomes efficient, as the scale of operation increases leading to a reduction in average costs.
Positive Economic Profits
Earnings that exceed the total costs, including both the explicit and implicit costs of a business.
Expand
To increase the scale, scope, or size of something, often used in the context of business growth or economic expansion.
Increasing-cost Industry
An industry in which production costs increase as output expands, often due to scarce resources or rising input prices.
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