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When Bill speaks,his face rarely changes expression,and his voice stays in a very narrow pitch range.When he begins a thought,he often finishes the sentence with a completely unconnected and different thought.Lately,he has developed the odd habit of raising his hands to each side of his face and twirling them for hours at a time.Of the following,this collection of symptoms is MOST indicative of which diagnosis?
Economies of Scale
Cost advantages that entities attain due to the scale of operation, with costs per unit of output generally decreasing with increasing scale.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, measuring the performance exceeding opportunity costs.
Short-Run Equilibrium
The condition in which supply and demand are equal at a particular price level, within a short time frame, before all variables have fully adjusted.
Profit-Maximizing
The process or goal of a firm to adjust its production and sale strategies to achieve the highest possible profits.
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