Examlex
A situation where a consumer's willingness to use an item depends on how many others use it is
Diseconomies of Scale
A situation where a business grows so large that the costs per unit increase. It occurs when economies of scale no longer function for a firm.
Production Function
An equation or model that describes the relationship between inputs used in production and the output produced.
Diminishing Returns
The principle stating that if one factor of production is increased while others remain constant, the overall returns will incrementally decrease after a certain point, leading to reduced efficiency.
Decreasing Returns to Scale
A situation in which a proportional increase in all inputs results in a less-than-proportional increase in output.
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