Examlex
Which of the following was established by John Dalton?
Technological Advance
Progress in technology that improves efficiency and productivity, often leading to economic growth.
Labor Productivity
A measurement of economic performance that shows the amount of goods and services produced per labor hour.
Average Total Cost
The total cost of production divided by the total quantity produced, representing the average cost per unit.
Long Run
A time period in economic analysis during which all factors of production and costs can be variable, allowing for full adjustment to changes in market conditions.
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