Examlex
A retail location that typically has one primary store (usually a department store branch) with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive is referred to as a(n)
ATC
Average Total Cost, which is the total cost divided by the quantity of output produced, representing the per unit cost of production.
Diminishing Returns
A rule which posits that when investment in a specific sector grows, the profit rate from that investment will not continue to rise past a certain threshold if all other factors are kept unchanged.
AVC
Average Variable Cost is the total variable cost per unit of output.
ATC
Average Total Cost; the per-unit cost of production, calculated by dividing the total cost by the quantity of output produced.
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