Examlex
How many electrons can be accommodated in the fourth shell of an atom?
Insurance
A financial product providing protection against possible financial losses or damages, involving regular payments in exchange for the promise of compensation under certain conditions.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, resulting in cost per unit of output decreasing with increasing scale.
Diseconomies of Scale
The phenomenon where production costs per unit increase as an operation scales up, typically due to inefficiencies or increased complexities.
Long-Run
The long-run refers to a period in economics where all factors of production and costs are variable, allowing all inputs to be adjusted.
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