Examlex
Find all relative extrema of the function .Use the Second Derivative Test where applicable.
Opportunity Cost
The price paid for not choosing the next most favorable option when a decision is made.
Absolute Advantage
A situation in which a person or economy can produce more of a good with the same amount of resources as someone else.
Inputs
Resources such as labor, raw materials, and capital that are used in the production process to create goods or services.
Gain From Trade
The benefit obtained by countries, organizations, or individuals from engaging in exchange or trade.
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