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Alan likes work where he has human interaction, as he has good people skills. However, his current job is data entry and has almost no human interaction. What should Alan do to improve his situation?
U-Shaped Average
This term seems unclear; possibly referring to the 'U-shaped' curve of the average cost, which decreases, reaches a minimum, and then increases with production volume.
Price Elasticity
Evaluating how price changes for a good translate into variations in consumer interest.
Cost of Entry
The initial capital and expenses required to start a business or enter a market.
Economies of Scale
The cost advantage achieved by an enterprise when production becomes efficient, as the scale of the operation increases.
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