Examlex
When looking at labour legislation in different countries,it is common that each country has rules regarding:
Diseconomies of Scale
The phenomenon where an increase in production leads to higher costs per unit due to inefficiencies that arise from scaling up operations.
Increasing Returns
An increase in a firm’s output by a larger percentage than the percentage increase in its inputs.
Diminishing Returns
A principle stating that after a certain point, additional investment or effort yields progressively smaller increases in output.
Marginal-cost Curve
The marginal-cost curve represents how the cost of producing one additional unit of a good changes as its production volume varies.
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