Examlex
A __________results from revising estimates of the useful life or salvage value of a plant asset.
Long Run
In economics, a period in which all inputs can be adjusted by firms, and there are no fixed costs, allowing for full industry adjustment.
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, begins to decrease.
Marginal Cost
The change in total production cost that arises when the quantity produced is incremented by one unit.
Fixed Cost
Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.
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