Examlex
UBC student Ann Makosinski has developed a coffee mug that generates electricity to charge a cell phone. She has filed a patent for the device. What does she have from the patent on the coffee mug?
Diseconomies of Scale
An economic concept where, beyond a certain point, an increase in the scale of production leads to a rise in average costs per unit due to inefficiencies.
Long Run
A term in economics referring to a period wherein all inputs can be adjusted, including those that are typically fixed in the short run.
Variable Costs
Charges that adjust directly in response to the quantity of production or output.
Average Total Cost
The total cost divided by the quantity of output produced, representing the cost per unit of output.
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