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Means Scrambling a Message So That Only Another Individual or Computer

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means scrambling a message so that only another individual or computer that has the right "key" for deciphering it can unscramble it.


Definitions:

MRP of Labor

The Marginal Revenue Product of Labor, representing the additional revenue generated from hiring one more unit of labor.

Market Wage Rate

The prevailing rate of pay for work of a similar nature within a given labor market.

Hiring Labor

The process of finding, selecting, and employing people to work for wages or salaries.

Profit Maximizing

The mechanism through which a firm calculates the price and output level to maximize its profits.

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