Examlex
The mechanism by which populations evolve and new species develop is called:
Returns to Scale
The rate at which output increases as inputs are increased proportionately.
Economies of Scope
Cost advantages companies experience when they increase the variety of products produced, as opposed to increasing the volume of a single product (economies of scale).
Joint Cost Curve
Refers to a graph showing the costs shared by products in the process of being produced together up to a split-off point.
Economies of Scope
Cost advantages that enterprises obtain due to efficient resource utilization in producing a variety of products rather than specializing in a single product.
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