Examlex
Which of the following plans is most likely to be useful for demonstrating a new technology or service?
Economies Of Scale
The situation when a firm’s average total cost of producing a product decreases in the long run as the firm increases the size of its plant (and, hence, its output).
Variable Inputs
Factors of production that change in quantity as the level of output changes, such as labor or raw materials, in contrast to fixed inputs like machinery or land.
Property Resources
Assets or materials owned by individuals or entities, including land, buildings, and intellectual property, used in the production of goods and services.
Labor
The human effort, either physical or mental, used in the production of goods and services.
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