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What are the advantages and disadvantages of exporting as a mode of entry into foreign markets?
Robot Hours
The amount of time robots are operational and performing tasks in place of human labor.
Cost-output Elasticity
Cost-output elasticity measures the responsiveness of the cost of production to changes in the quantity of output produced, indicating the scale economies in production.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Marginal Cost
The expenditure required to produce an additional unit of a product.
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