Examlex
Find the probability of selecting 3 science books and 4 math books from 8 science books and 9 math books. The books are selected at random.
Perfect Substitutes
Two goods for which the marginal rate of substitution of one for the other is a constant.
Labor Costs
The total sum of all wages, benefits, and taxes that businesses must pay for employing workers.
Rental Rate
The cost of renting a property, piece of equipment, or other asset, typically expressed per unit of time.
Short-Run Average Cost
The average cost of production per unit in the short term, where some inputs are fixed and others are variable.
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