Examlex
The significance of mass wasting processes can be seen in that most river valleys are broad rather than "V shaped" because mass wasting slope failures exceed stream erosion.
Constant Returns to Scale
A situation in which increasing the amount of inputs in production results in a proportional increase in output.
Long-run Total Costs
The total costs incurred by a firm when all factors of production are variable, emphasizing the period where no costs are fixed.
Average-fixed-cost Curve
A curve that shows the relationship between the average fixed cost of producing a good and the quantity of the good produced, typically declining as production increases.
Marginal Product
The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.
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