Examlex
_________are organizations that spread their skills thinly to compete for a broad range of resources in many niches.
Total Product Curve
A curve that shows the relationship between the quantity of inputs used in production and the quantity of output from production.
Marginal Product Curve
A graph that illustrates the change in output when an additional unit of input is added, holding all other inputs constant.
Production Function
Describes the relationship between inputs used in production and the resulting output.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing for full industry adjustment.
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