Examlex
Which of the following is made up of organizationally or geographically dispersed members who are linked primarily through advanced information and communications technologies?
Specialization
The process of focusing effort and resources on a limited number of activities to increase efficiency and productivity.
Constant Returns to Scale
A situation in which increasing the amount of inputs in production results in a proportional increase in output.
Long-run Total Costs
The total costs incurred by a firm when all factors of production are variable, emphasizing the period where no costs are fixed.
Average-fixed-cost Curve
A curve that shows the relationship between the average fixed cost of producing a good and the quantity of the good produced, typically declining as production increases.
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