Examlex
Write the word or phrase that best completes each statement or answers the question.
Solve the problem.
-Find the area of the shaded portion ( see illustration) of a circle of radius , formed by a central angle of . Round your answer to the nearest square .
[Hint: Subtract the area of the triangle from the area of the sector of the circle to obtain the area of the shaded portion.]
Short-Run
The short-run in economics refers to a period during which at least one input, such as plant size, is fixed and cannot be changed.
Long-Run
A period of time in which all factors of production and costs are variable, allowing for full adjustment to changes.
Marginal Revenue
The increase in revenue from the sale of one more unit of a product or service.
Natural Monopoly
A market situation where a single supplier can provide a good or service more efficiently than any potential competitor, often due to high initial setup costs.
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