Examlex
Which of the following is an incorrect statement?
Economies Of Scale
The cost advantage achieved by an increase in production, which typically leads to a decrease in the average cost per unit as fixed costs are spread over more units.
Efficiency
The ability to maximize output with minimum input, reflecting optimal allocation and utilization of resources.
Herfindahl Index
A measure of market concentration, calculated by summing the squares of the market shares of all firms in the industry.
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