Examlex
Write the system of linear equations as a matrix equation , and use GaussJordan elimination on the augmented matrix to solve for the matrix .
Interest-Rate Cost-of-Funds Curve
A graphical representation showing the relationship between the interest rates on loans and the total amount of funds loaned by banks.
MB = MC Decision Framework
A decision-making framework where optimal resource allocation occurs when marginal benefits (MB) equal marginal costs (MC).
Marginal Cost Element
An increase in total cost that results from producing one additional unit of a good or service.
Entrepreneurs
Individuals who create, organize, and operate businesses, taking on financial risks in the hope of profit.
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