Examlex
The third step in the four-step program evaluation model in Chapter 13.
Increasing Cost Industry
An industry in which production costs increase as output expands, often due to limited resources or other constraints.
Increasing-Cost Industry
An industry in which the costs of production increase as more firms enter the market, typically due to limitations in resources.
Decreasing-Cost Industry
An industry in which the average cost of production decreases as the industry grows and output increases.
Decreasing Returns to Scale
A situation in which a proportional increase in all inputs leads to a less than proportional increase in output, indicating reduced efficiency as scale of production expands.
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