Examlex
The horizontal sum of marginal cost curves (above AVC) of all the firms in an industry is the short-run industry supply curve.
Income
Earnings received by an individual or entity in exchange for labor or services, from investments, or through other sources.
Living Standards
The level of wealth, comfort, material goods, and necessities available to a person, group, or society.
Industrial Democracy
A form of organizational governance in which workers have a direct or representative role in decision-making processes.
Productivity
A measure of the efficiency of production, often quantified as the rate of output per unit of input.
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