Examlex
A conditioned stimulus from one learning trial is used in place of an unconditioned stimulus in a new conditioning trial, where it is paired with a second conditioned stimulus. The second conditioned stimulus then comes to elicit the conditioned response, even though it has never been directly paired with the unconditioned stimulus. This is a description of a procedure called higher order conditioning.
Economies of Scale
The economic benefits gained by companies because of their large scale of operation, which typically results in a lower cost per unit of output as the scale increases.
Average Fixed Costs
The total fixed costs associated with production (costs that do not change with output) divided by the quantity of output produced.
Output Increases
A rise in the quantity of goods or services produced by a company or economy.
Law of Diminishing Returns
The principle that as the level of investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.
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