Examlex
In Texas,the governor has used executive orders primarily for which of the following two purposes?
Economies of Scale
Describe the cost advantages that enterprises obtain due to the scale of their operations, typically resulting in reduced costs per unit with increased output.
Long-run Average Total Cost
The average cost per unit of output when all inputs, even physical capital, are adjustable, over a sufficient time period.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, characterized by a reduction in average cost per unit when output is increased.
Diseconomies of Scale
The phenomenon where production costs per unit increase as the volume of output increases.
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