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Which of the following is an offer made by an offeree to an offeror relating to the same matter as the original offer and proposing a substituted bargain differing from that proposed by the original offer?
Law of Diminishing Returns
An economic principle stating that, holding all else constant, as one input variable is increased, there is a point at which the marginal per unit output starts decreasing.
Diseconomies of Scale
The phenomenon where an increase in production leads to higher per-unit costs, often due to inefficiencies associated with scale.
Output Units
The measurable quantities or volumes of goods or services produced by a company or industry.
Minimum Efficient Scale
The smallest scale of production where long-term average cost is minimized, helping businesses realize economies of scale.
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