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The World-Will-End-on-June-7 group got together on June 7 to pray as the world ended. The next day the world did not end. The leader of the group said, "Our prayers saved the world." What process was responsible for the attitude change?
Law of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other factors remain constant.
LRATC
Long-Run Average Total Cost, referring to the average cost per unit of output when all inputs are considered variable over time.
Economies of Scale
Businesses experience cost savings linked to the size of their operations, with the per-unit cost usually falling as the operation size grows.
Entire Range
The complete spectrum or entirety of something, without leaving parts out.
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