Examlex
In a parallel circuit, ET = 240 V, R = 30 Ω, and XL = 40 Ω. What is the power factor?
Long-Run Economic Profit
The sustainable profit a firm earns over time, assuming entry and exit in the market are possible and adjustments have been made.
Self-Interest
An individual's personal gain or advantage, especially when pursued without regard for others.
Price-Taker Markets
Markets in which individual sellers or buyers have no control over setting prices and must accept the prevailing market price.
Homogeneous Product
Products that are of the same quality and are indistinguishable by buyers.
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