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It Is Possible to Increase Power Without Taking Power Away

question 63

True/False

It is possible to increase power without taking power away from others.


Definitions:

Marginal Costs

The additional cost incurred to produce an extra unit of a product or service.

Average Costs

The total costs of production divided by the number of units produced, representing the cost per unit.

Returns To Scale

The change in output resulting from a proportional change in all inputs in the production process; can be increasing, constant, or decreasing.

Increasing Returns To Scale

See Economies of scale.

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