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Spherical particles of density 3.0 g/cm3 are shaken in a container of water (viscosity = 1.0 *10-3 N·s/m3) . The water is 8.0 cm deep and is allowed to stand for 30 minutes. What is the radius of the largest particles still in suspension at that time?
Explicit Costs
Direct, out-of-pocket payments for wages, rent, materials, and other inputs required for the production of goods or services.
Implicit Costs
The opportunity costs of utilizing resources owned by the firm that could have been employed elsewhere, not directly paid out in cash.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, leading to a decreased cost per unit.
Pin Factory
An example used by Adam Smith to describe the benefits of specialization and division of labor in manufacturing, increasing productivity and efficiency.
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