Examlex
Which component of a database management system (DBMS) is used to design elements of an application using a database, such as data entry screens, interactive menus, and interfaces with other programming languages?
Minimum ATC
The lowest point on the Average Total Cost curve, indicating the most efficient scale of production for a firm in the long run.
Economic Profit
Profits earned by a firm or an individual after subtracting both the explicit costs and opportunity costs of resources employed.
Short Run
A time period in which at least one factor of production is fixed and cannot be changed, contrasting with the long run where all factors are variable.
Perfectly Competitive Firm
A company that operates in a market where there are many buyers and sellers, where it sells a homogeneous product and where there is free entry and exit from the market.
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