Examlex
Which of the following is NOT a real option?
Cost Curve
A graphical representation showing how the cost of producing a good varies with the level of output.
Diminishing Returns
Diminishing returns is an economic principle stating that after a certain point, additional units of input result in progressively smaller increases in output.
Average Fixed
The fixed costs of production divided by the quantity of output produced, indicating the average fixed cost per unit.
Marginal
Pertaining to the additional or incremental changes in costs, benefits, revenues, or other quantities, typically used in analysis of business decisions or economic policies.
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