Examlex
In which tropical climate does the high humidity and cloud cover prevent the maximum temperatures from reaching extremely high values?
Variable Cost
Costs that change in proportion to the level of production or sales, such as materials and labor directly involved in manufacturing.
Marginal Cost
The increase in cost resulting from the production of one additional unit of a good or service.
Fixed Input
An input whose quantity is constant and cannot be changed in the short run.
Short Run
A period in economics during which some factors of production are fixed, limiting the ability of a business to fully adjust to market changes.
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