Examlex
Puerto Rican migration to Florida has been driven by:
Factor Price
The price at which factors of production (land, labor, capital) are bought and sold.
Production Function
A mathematical model that describes the relationship between inputs used in production and the resulting output.
Profit-maximizing
The process or strategy of adjusting production and operations to achieve the highest possible profit under given conditions.
Fixed Factor
A resource in the production process whose quantity cannot readily be changed in the short term.
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