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Left-handed people
Average Costs
Average costs refer to the total cost of production divided by the number of units produced, indicating the cost of producing each unit.
Marginal Costs
The cost added by producing one additional unit of a product or service.
Diseconomies of Scale
The phenomenon where production costs per unit increase as the scale of operation expands.
Inputs
Resources used in the production process, including labor, capital, materials, and energy, to create output or goods and services.
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