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Your firm expands its output in a time when demand appears to be increasing.Demand for all goods is increasing because of inflation,and consumers want to buy all goods faster because their real purchasing power is falling due to inflation.This situation could indicate that your firm experienced
Marginal Productivity
The change in output resulting from employing one more unit of a particular input, keeping all other inputs constant.
Income Distribution
Refers to how a nation’s total GDP is distributed amongst its population.
Equilibrium Quantity
The level of output at which the demand for a product matches its supply, marking a state of balance in the market.
Equilibrium Price
The price point in a market at which the supply of goods matches demand, leading to a stable market condition.
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