Examlex
Define the following:nonlinear research path
Variable Cost
Expenses that vary in relation to the amount of products or services a company generates.
Fixed Cost
Costs that do not change with the level of production or sales, such as rent, salaries, and loan repayments.
Economies of Scale
The cost advantages that a business can exploit by expanding their scale of production, leading to a lower cost per unit.
Diseconomies of Scale
Increased costs per unit that occur when a company grows too large, leading to inefficiencies.
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