Examlex
Recent trends in the globalization of the world economy include all of the following except:
MC
Marginal Cost, the increase in total cost that arises from producing one additional unit of a good or service.
AVC
Average Variable Cost, the variable cost per unit of output.
Law Of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if all other variables remain at a constant.
Marginal Output
The additional quantity of a product that is produced from using one more unit of an input, keeping other inputs constant.
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