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According to the science of race,how many races are there?
Short Run
A period in economics during which at least one factor of production is fixed, limiting the ability of the economy or firm to adjust.
Long Run
A time frame in economics where all factors of production can be varied, allowing for full adjustment to changes.
Marginal Revenue
The enhanced earnings a business receives by selling one more unit of its goods or services.
Marginal Cost
The swell in overall financial outlay resulting from the crafting of an extra unit of a good or service.
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