Examlex
Sustainability refers to _____.
Substitution Effect
The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with less costly alternatives.
Output Effect
The impact on an organization's total output resulting from a change in price, affecting the quantity supplied or demanded.
Substitute Resource
A resource that can be used in place of another, often relevant in the context of production or environmental sustainability.
MRP Curve
The marginal revenue product curve, which shows the additional revenue generated by one additional unit of an input.
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