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The minimum efficient scale of production is high when fixed costs are low.
Product Requirement
Specifications or criteria that a product must meet related to its design, functionality, and performance.
Resource Decreases
The reduction in the availability or supply of natural, human, or capital resources in an economy or specific market.
Substitute Input
An alternative resource or material that can be used in place of another in the production process to achieve the same outcome.
Labor Resource Market
A market where individuals offer their labor or services for wages to employers who are in need of those services.
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