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Why did employers hold more power than employees in the master-servant relationship even though common law required them to pay wages?
Standby Seats
Airline or event tickets made available last minute, typically at a lower price, for customers willing to wait for no-shows or extra capacity.
Full Capacity
The maximum level of output that a facility can produce under normal operating conditions.
Marginal Cost
The increase in total production costs from making one additional unit of a product or service.
Producing Unit
An individual entity, such as a factory or company, involved in the production of goods or services.
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