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Technological Change
The process through which new technologies are developed and introduced, leading to changes in productivity, consumption patterns, and economic structure.
Equilibrium Wages
The payment rate at which the provision of labor matches the request for labor.
Short-Order Cooks
Cooks who specialize in preparing food quickly and efficiently, often in diners and fast-food establishments, responding rapidly to customer orders.
Market Price
The price at which a good or service is offered in the marketplace, determined by supply and demand.
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