Examlex
The stage of prenatal development characterized by development of major body structures and organ systems is
Diminishing Returns
A principle stating that as more of a variable input is combined with a fixed input, the incremental gains in output will eventually decrease.
Increasing Returns
This refers to a scenario in economics where, as the quantity of input increases, the rate of output increases at a faster rate, leading to economies of scale.
Long-Run Total Cost
The aggregate cost of production when all factors of production are variable and the scale of operation can change.
Units of Variable K
In economics, this refers to units of a variable factor of production (K often denotes capital), where the quantity can be changed in the short run to increase or decrease production.
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