Examlex
Why are intellectuals nearly everywhere discontented with the existing state of affairs?
Learning Curve
Graph relating amount of inputs needed by a firm to produce each unit of output to its cumulative output.
Average Costs
The total cost of production divided by the quantity produced, indicating the cost per unit of product or service.
Tolerances
The permitted variations in measurements or physical characteristics in the manufacturing or production of goods.
Economies of Scale
Economies of scale describe the reduction in per-unit cost that a company benefits from as it scales up production. This cost benefit is due to the fixed costs spreading over a larger number of units.
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