Below are the list of 12 key terms provided. Create a presentation slide(s) or graphic with a description – including a real world example – that could be used to describe the term to someone unfamiliar with the idea or concept.
Diminishing marginal returns
Average total cost (ATC)
Marginal cost (MC)
Operating leverage
Short run
Operating period
Long run or planning period
Economies of scale
Diseconomies of scale
Constant returns to scale
Economies of scope
Experience or learning curve