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As the Volume of Production in a Firm Increases, the Average

question 47

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As the volume of production in a firm increases, the average cost per unit decreases until some optimal volume of production is reached, after which the average costs per unit of production begin to rise because of diseconomies of scale.


Definitions:

Gametes

Reproductive cells (sperm in males and eggs in females) that unite during fertilization to form a new organism.

Ovaries

Female reproductive organs in which eggs are produced along with the secretion of hormones like estrogen and progesterone.

Cervix

The lower, narrow end of the uterus, which opens into the vagina and dilates during childbirth to allow passage of the baby.

Genetic Material

The molecules, usually DNA or RNA, that carry genetic information necessary for growth, development, functioning, and reproduction.

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