Examlex
Which of the following is NOT an assumption of the M/M/1 model?
Economies of Scale
Refers to the cost advantage experienced by an entity due to expansion in production, leading to lower per-unit costs.
Diseconomies of Scale
The phenomenon where production costs per unit increase as the scale of operation or output increases.
Output
In economics, the amount of goods or services produced by a business, industry, or economy.
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