Examlex
What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one specific example that illustrates this type of segmentation.
Increasing-Cost Industry
An industry where production costs increase as output grows, often due to resource limitations or regulatory constraints.
Decreasing-Cost Industry
An industry in which average costs of production decrease as the industry grows larger, often due to economies of scale.
Long-Run Equilibrium
A state in which all factors of production and markets in an economy are in balance, and all firms in the market are earning normal profits with no inclination to enter or exit the market.
Internal Diseconomies
Increased per unit costs that occur when a firm or industry grows beyond a certain size, leading to inefficiencies.
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