Examlex
Unpolarized light of intensity I0 passed through an ideal polarizing sheet with its polarizing axis at the 12 o'clock position and then through a second ideal sheet with its polarizing axis at the 1 o'clock position. What is the intensity of the emerging light in terms of I0?
Increasing Returns
An increase in firm’s output by a larger percentage than the percentage increase in its inputs.
MC
Marginal Cost, the change in total production cost that comes from making or producing one additional unit.
ATC
Average Total Cost, which is the total cost divided by the number of goods produced, representing the per-unit production cost.
AVC
Average Variable Cost; the total variable cost divided by the quantity of output produced, indicative of variable costs per unit of output.
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