Examlex
Describe a time when a change was made in some organization of which you were a part.Were you resistant to the change? Why or why not?
Short Run
A period in economics where at least one factor of production is fixed, limiting the ability of the economy or firm to adjust to changes in demand or supply.
Productive
Relating to or involving the creation of goods or services that satisfy human wants; the efficiency and effectiveness in producing outputs from inputs.
Constant Returns To Scale
A condition where increasing all inputs by any proportion results in output increasing by that same proportion, indicating that size does not affect productivity.
Long-Run Average Total Cost
The cost per unit of output incurred when all factors of production are variable, and scale of production can be changed.
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