Examlex
By default all quantifiers are lazy.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Average Total Cost
The total cost of production divided by the total quantity of output, representing the cost per unit of output.
Scale of Operations
The scope or size of production, or the level at which a business operates in terms of output.
Average Cost Curve
A graphical representation that shows how the cost per unit of production varies with the quantity produced.
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