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In what two ways can an array performance calculation be made?
Variable Input
An input in the production process that can be adjusted in the short term to change the level of output.
Industry Supply Curve
A graphical representation that shows the relationship between the price of a good and the total output of that good by all firms in the industry.
Marginal Cost Curve
A graphical representation showing how the cost of producing one additional unit of a good varies as production volume changes.
Raw Materials
The basic materials from which products are manufactured or made.
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