Examlex
Write a note on the costs of marketing research.
Price Level
An index or measure that represents the average prices of goods and services in an economy at a given time.
Human Capital
The knowledge and skills that workers acquire through education and on-the-job training
Technology
The application of scientific knowledge for practical purposes, especially in industry and in the creation of goods and services.
Long Run
A period in which all factors of production and costs are variable, and firms can adjust all inputs and technology to reach a desired output level.
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