Examlex
Computers "R" Us borrowed $40,000 for 2 years at 7%.The face value of the note is $45,600.
Long-Run Adjustment
The process by which firms adjust their production capacity and input usage to new market conditions over time, beyond short-term fluctuations.
Returns To Scale
Rate at which output increases as inputs are increased proportionately.
Increasing Marginal Product
A situation where each additional unit of input results in an increased amount of output.
Economic Rents
Extra earnings above the minimum amount necessary to keep a factor of production in its current use.
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