Examlex
Which of the following is a component of negligence?
Returns to Scale
The change in output resulting from a proportionate increase in all inputs (factors of production), where increasing, constant, and decreasing returns to scale can occur.
Long-Run Average Total Cost
The average cost per unit of output in the long term when all inputs can be varied by the firm and economies of scale have been reached.
Output
The total amount of goods or services produced by a company, industry, or economy within a given period.
Returns to Scale
The rate at which output increases in response to a proportional increase in all inputs (factors of production).
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