What Do You Call a Letter in Which You Respond

question 34

Short Answer

What do you call a letter in which you respond to a claim and tell the author how you plan to handle the situation described in the letter?

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Definitions:

Decreasing Average Total Costs

A situation in which the average total cost of production decreases as the output increases, indicative of economies of scale.

Natural Monopoly

A market condition where a single supplier is most efficient in producing the good due to the high fixed or start-up costs associated with the industry.

Entire Range

The complete spectrum or scope of something, from one end to the other, without any exclusions.