Examlex
If a system of linear equations of 3 unknowns has infinitely many solutions then the graph of each equation is identical.
Fixed Costs
Costs that do not vary with the level of production or business activity, such as rent, salaries, and insurance.
Variable Costs
Costs that change in proportion to the level of production or business activity.
Shut Down
The process of ceasing operations, often temporarily, as a strategic or economic decision by a business.
Short Run
A period in economics where at least one input is fixed and cannot be changed.
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