Examlex
The "NASH" system has to do with _________.
Economies of Scale
The economic benefits that businesses gain from their size of operations, where the expense per unit of production typically lowers as the scale increases.
Increasing Returns
A situation in which an increase in the scale of production results in a disproportionate increase in output, usually leading to lower average costs.
Suffer Losses
occurs when a business or individual incurs expenses that exceed their revenues.
Long-run
A period of time in economics during which all factors of production and costs are variable, allowing for full industry adjustment.
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