Examlex
Which of the following was NOT used as evidence for seafloor spreading?
Average Total Cost
The total cost of production divided by the quantity produced, taking into account both fixed and variable costs.
Excess Capacity
The situation where a company is producing less than its full potential output due to lack of demand or other constraints.
Efficient Scale
The level of production at which a firm achieves the lowest average total cost, with economies of scale fully exploited.
Business-Stealing Externality
Negative impacts on existing firms due to entry of new competitors, which can steal customers and reduce profits.
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