Examlex
Schools were desegregated immediately following the 1954 Brown v. Board of Education ruling of the U.S. Supreme Court.
Personal Savings
The portion of an individual's income that is not spent on consumption and is saved for future expenses, investments, or emergencies.
Explicit Cost
Direct, out-of-pocket payments for the purchase of inputs or resources for business operations.
Marginal Product
The additional output resulting from using one more unit of a given input, holding all other inputs constant.
Total Cost Curve
Represents the total economic cost of production, which is the sum of fixed and variable costs at different levels of output.
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