Examlex
A virtual private network (VPN)is a private electronic network.
Fixed Cost
Expenses that do not change with the level of output or sales in the short term, such as rent, salaries, and insurance.
Output
The total amount of goods or services produced by a company, industry, or economy over a certain period.
Constant Returns To Scale
Long-run average total cost is constant as output increases.
Long-Run Average Total Cost
The average cost per unit of output when all inputs, including those typically fixed, are variable and optimized.
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