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Today, though cutting expenses is still a main factor, the desire of many firms to focus on core competencies is a driving force behind the increase in:
Labor Supply Curve
A graphical representation showing the relationship between the wages offered and the quantity of labor workers are willing to supply.
Competitive Conditions
The state of a market characterized by a large number of buyers and sellers, leading to price competition and innovation.
Marginal Revenue Product
Marginal Revenue Product measures the additional revenue generated by employing one more unit of a factor of production, such as labor or capital.
Competitive Firm
A company that operates in a market with many buyers and sellers, where it has little control over market price.
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