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Case 3-1
Your friend Julian is applying for his first job and is looking to produce a cover letter that is letter-perfect in its presentation,not to mention its content.Knowing that you are a recently successful job seeker,he comes to you for advice on the preparation of the letter.
-Julian wants to get the letter off to a good start.He has designed a personal letterhead with his name at the very top.What is the first thing he should put immediately below the letterhead,and how far below the letterhead should it appear?
Diseconomies Of Scale
Situations where a firm's costs per unit increase as the scale of production increases, typically due to inefficiencies that arise from becoming too large.
Diminishing Returns
A principle stating that if one input in the production of a commodity is increased while other inputs are held fixed, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.
Diminishing Returns
A principle in economics that states as one input variable is incrementally increased, there comes a point when the rate of resultant output begins to decrease.
Variable Inputs
Inputs, such as labor and materials, whose usage changes according to the level of production.
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