Examlex
How might the proportion of coding to noncoding DNA in the genome of a species be related to the relative importance of natural selection and genetic drift in the evolution of the species?
Long-run Marginal Cost
The change in total cost when producing one additional unit of a product or service in the long term, where all inputs are considered variable.
Economies of Scale
Enterprises gain cost benefits from their operation size, as the cost for each unit produced typically drops when the scale enlarges because fixed expenses are distributed across a greater number of output units.
Efficient Scale
The level of production at which a firm can produce its product at the lowest average cost per unit.
Economies of Scale
Economies of scale describe the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
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