Examlex
The diverse array of Anolis lizards on Hispaniola is the result of several different species of lizards originally colonizing the island. Very little diversification occurred after these colonists arrived at Hispaniola.
Output
The quantity of goods or services produced in a given period of time.
Returns to Scale
The change in output resulting from a proportionate increase in all inputs (factors of production), where increasing, constant, and decreasing returns to scale can occur.
Long-Run Average Total Cost
The average cost per unit of output in the long term when all inputs can be varied by the firm and economies of scale have been reached.
Output
The total amount of goods or services produced by a company, industry, or economy within a given period.
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