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The resource-based view suggests that firm-specific capabilities do not drive performance differences.
Total-Product Schedule
A chart that shows the maximum output of a good achievable from different levels of input usage, holding technology constant.
Purely Competitive
A market structure characterized by a large number of small firms, homogeneity of product, and free entry and exit from the market.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource or input in production.
Total-Product Schedule
A table showing the output or total product produced by a firm at different levels of input resource.
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