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Long arm statutes require minimum contacts to serve out-of-state defendants.
Short-Run Cost Function
A representation of how total production costs change with output levels in the short term, when some factors are fixed.
Quasi-Fixed Costs
Costs that are not directly variable with the level of output but can change over time with scale of operations, such as salaries for permanent staff.
Positive Output
Production of goods or services in a quantity that exceeds zero.
Short-Run Cost Function
A mathematical relation describing how production costs change with output levels over a short period, where some inputs are fixed.
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