Examlex
Why was Aristotle wrong about the lack of parallax shift in stars when proposing this as evidence for the geocentric model of the Universe?
Elastic Supply
Elastic supply refers to a situation where the quantity of goods supplied to the market can quickly increase or decrease in response to changes in price.
Short Run
A period in which at least one input is fixed and cannot be changed by the firm.
Marginal Product of Labor
The extra output produced by adding one more unit of labor, holding other inputs constant.
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