Examlex
The initials ICAA stand for _________________ of _______________ ______________ in _________________.
Economies of Scale
The cost advantages that enterprises obtain due to scale of operation, with cost per unit of output generally decreasing with increasing scale.
Technology
The application of scientific knowledge for practical purposes, especially in industry.
Positive Profits
The financial gain that occurs when total revenue exceeds total costs.
Long Run
A period in which all factors of production and costs are variable, allowing full adjustment to any change in market conditions.
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