Examlex
The process by which employees obtain nonforfeitable rights to their retirement benefits that cannot be taken away in case of dismissal or resignation is called
AVC
Average Variable Cost, the variable cost per unit of output.
Law Of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if all other variables remain at a constant.
Marginal Output
The additional quantity of a product that is produced from using one more unit of an input, keeping other inputs constant.
Diminishing Returns
A principle stating that if one factor of production is increased while other factors are held constant, the incremental output or benefit gained will eventually decrease.
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