Examlex
Which one of the following decreases as the strength of the attractive intermolecular forces increases?
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, leading to a decrease in per unit cost with an increase in production.
Least Cost
The process of minimizing expenses involved in producing a good or service while maintaining its quality and efficiency.
Minimum Efficient Scale
The smallest amount of production a company can achieve while still taking full advantage of economies of scale with regards to minimizing its costs.
Long-Run ATC
The average total cost of production when all inputs, including capital, are variable and the scale of production can change.
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