________ Provides a Format Allowing the Electronic Transmittal of Three-Dimensional

question 54

Essay

________ provides a format allowing the electronic transmittal of three-dimensional data.

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Definitions:

Fixed Factors

Inputs in the production process that cannot be easily increased or decreased in a short period of time.

Constant Returns To Scale

a situation in production where increasing all inputs by the same percentage results in output increasing by that same percentage.

Long-run Profits

The potential earnings of a business over a period long enough for all inputs to be adjusted, considering the firm's ability to enter or exit markets.

Factor Price

The price at which factors of production (land, labor, capital) are bought and sold.