Examlex
The functional group of which type of compound does not contain an oxygen atom?
Short Run
A time period in which at least one factor of production is fixed, limiting the ability of a firm to adjust its output.
Automatic Market Adjustments
The self-regulating nature of the marketplace that responds to supply and demand changes to reach equilibrium without outside intervention.
Long-run Equilibrium
A state in which, given enough time for all adjustments to be made, there is no incentive for firms to enter or exit an industry, and prices stabilize.
Marginal Revenue
The extra income a business earns by selling an additional unit of a product or service.
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