Examlex
Standard modules are saved on disk as files that end with this extension.
Productive Efficiency
The scenario in which a good or service is produced at the lowest possible cost, utilizing resources and technologies in the most efficient manner.
Long-Run Equilibrium
A state in which all firms in an industry achieve zero economic profit, resulting in market stability over time.
Diseconomies of Scale
The situation when a firm’s average total cost of producing a product increases in the long run as the firm increases the size of its plant (and, hence, its output).
Underutilized
Refers to resources or capacities not being used to their full potential, often implying inefficiency or lost productivity.
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