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Discuss the influence of the Parthian and Sassanian empires on the region around what is modern-day Iran. Include the centuries of Parthian conflicts with Rome, the concept of the shahanshah, and unique aspects of the Sassanians.
Purely Competitive Market
A market structure characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to price determination by supply and demand forces.
Least Costly Combination
Refers to an economic principle where firms choose a mix of inputs (labor, capital, etc.) that minimizes their costs while producing a given level of output.
Wage Rates
The standard amount of compensation paid to employees for their labor per unit of time or piece of work completed.
Labor Demand
The total amount of hours worked that employers are willing to hire at a given wage rate, in a given time period.
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