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What factors determine whether a volcanic eruption is explosive or effusive? What are some ways in which the landforms created by the two different types of eruption differ?
Fixed Input
An input whose quantity is fixed for a period of time and cannot be varied (for example, land).
Capital
Resources, including finances and assets, used by businesses to fund their operations and investments.
Variable Input
An input whose quantity the firm can vary at any time to increase or decrease production.
Total Product Curve
The total product curve illustrates the relationship between the quantity of inputs used in production and the quantity of output produced, demonstrating the law of diminishing returns.
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