Examlex
Our new CEO acts like the coach of a football team is an example of a simile.
Competitive Equilibrium
is a condition in a market where supply equals demand, with prices becoming stable at this point.
Capital Input
The resources used in the production process, including buildings, machinery, and equipment.
Labor Input
The total hours of work or number of workers employed in the production of goods and services.
MRTS
The Marginal Rate of Technical Substitution; the rate at which one input can be substituted for another input in the production process, while keeping the output level constant.
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