Examlex
A protein substance that is produced in the body in response to an invading foreign substance is called a/an:
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, resulting in cost per unit of output decreasing with increasing scale.
Diseconomies of Scale
The phenomenon where production costs per unit increase as an operation scales up, typically due to inefficiencies or increased complexities.
Long-Run
The long-run refers to a period in economics where all factors of production and costs are variable, allowing all inputs to be adjusted.
Short-Run
A period in economics during which at least one factor of production is fixed, focusing on immediate effects and adjustments.
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