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Empirical indicators are resources that are either rare, hard to imitate, or
Marginal Resource Cost
The change in total cost that comes from producing one additional unit of a good or service.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor of production.
Marginal Revenue Product
The additional revenue a firm generates by employing one more unit of input, such as labor or capital.
Perfectly Competitive Market
A market characterized by a high level of competition, where no single buyer or seller can influence prices and products are homogeneous.
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