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What is a code of ethics? How does the Sarbanes-Oxley Act of 2002 relate to ethics?
Average Costs
A calculation that determines the cost of producing one unit of goods by averaging the total production costs.
Returns to Scale
A concept in economics that describes how the increase in inputs affects the level of output of a production process.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, with costs per unit of output generally decreasing with increasing scale.
Diseconomies of Scale
A situation in which a business's costs per unit increase as the scale of operation expands, opposite to economies of scale.
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