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-In 1838, the German mathematician and astronomer Friedrich Wilhelm Bessel was the first person to calculate the distance to a star other than the Sun. He accomplished this by first determining the parallax of the star, 61 Cygni, at arc seconds (Parallax is the change in position of the star measured against background stars as Earth orbits the Sun. See illustration.) If the distance from Earth to the Sun is about and seconds minutes degrees, determine the distance d from Earth to 61 Cygni using Bessel's figures. Express the answer in scientific notation.
Profit-Maximizing Rule
A principle stating that firms achieve maximum profit when they produce goods or services to the point where marginal cost equals marginal revenue.
Cost-Minimization Rule
A principle in economics that suggests a firm should produce any given output at the lowest possible cost.
Statements
Assertions or declarations, often formal and written, detailing facts or opinions.
Least Costly Combination
An economic principle that firms seek to achieve by using the combination of factors of production that minimizes their costs while producing a given level of output.
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