Examlex
What kind of entity is a lichen?
Technological Superiority
Having more advanced and efficient technology compared to competitors, often leading to a competitive advantage.
Economies Of Scale
Cost advantages that enterprises obtain due to their scale of operation, leading to cost per unit of output decreasing with increasing scale.
ATC
ATC, or Average Total Cost, is the total cost divided by the number of goods produced, reflecting the average cost of production per unit.
Economic Profit
The earnings excess over the summation of a firm's clear and hidden financial outlays, showcasing its comprehensive income versus expenses.
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