Examlex
Which of the following is are only available to non-commercial customers?
Diseconomies of Scale
The phenomenon where, as a firm becomes too large, its costs per unit increase due to inefficiencies, leading to a decrease in overall productivity or cost-effectiveness.
Long-Run Average Cost Curve
A graphical representation used in economics to show the lowest average cost of production at which any given level of output can be produced in the long run, when all inputs are variable.
ATC
Average Total Cost, which refers to the total cost per unit of output produced, calculated by dividing the total cost by the quantity of output.
AVC
Average Variable Cost, which represents the variable costs of production (costs that change with output) divided by the quantity of output.
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