Examlex
Which of the following is a principle of critical thinking?
Output
The total amount of goods and services produced by an economy over a specific period.
Levels
Levels refer to the different positions or stages in a hierarchical structure or process, indicating varying degrees of magnitude, importance, or progress.
Efficient Scale
The level of production that minimizes long-term average total costs, resulting from economies of scale without incurring diseconomies of scale.
Marginal Cost
The supplementary cost attached to the output of an additional product or service unit.
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