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What kinds of questions can you answer using a measure of association?
Economies Of Scale
The benefit that larger operations have, which allows them to produce goods or services at a lower unit cost as production scales up.
Demand Schedule
A table that shows the quantity of a good or service that consumers wish to buy at various prices.
Total Revenue
The sum of money a company earns from selling products or offering services over a specific time frame.
Patent
A form of intellectual property protection that grants the patent holder exclusive rights to use, make, sell, and distribute the patented invention or process for a certain period of time.
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