Examlex
The division of labor benefits society only if
Diseconomies Of Scale
The situation when a firm's costs per unit increase as it produces more output, opposite of economies of scale.
ATC Curve
A graphical representation of the average total costs of production at different levels of output in economics.
AVC Curve
The average variable cost curve, which shows a firm's average variable costs of production at different levels of output.
Parkinson's Law
The adage that "work expands to fill the time available for its completion," suggesting efficiency decreases as the amount of time allocated to a task increases.
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