Examlex
The neocortex is not believed to play a role in the evaluation of experiences.
Long Run
An economic phase where all elements of production and expenses can fluctuate, enabling complete adaptation to any alterations.
Normal Profit
The minimum profit necessary for a company to remain competitive in the market, equating to the opportunity cost of capital and resources.
Implicit Costs
Indirect expenses that do not involve a direct cash outlay but represent an opportunity cost, such as using resources for one purpose over another.
Average Product
The output per unit of input, such as the number of goods produced per worker, used to measure productivity efficiency.
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