Examlex
Beginning in the 1440s,design changes in Portuguese caravels allowed them to:
Diseconomies of Scale
The situation in which a firm's long-run average costs begin to increase as the firm expands output beyond a certain point.
Student Enrollment
The process by which students register for and commit to participating in educational programs or courses at an institution.
Average Total Cost
The total cost of production (fixed and variable costs combined) divided by the number of units produced.
Minimum Efficient Scale
The smallest quantity of output at which long-run average cost reaches its lowest level, allowing a firm to fully exploit economies of scale.
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