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Security officers (or security guards) work in industry, retail, hospitals, airlines, hotels, universities, and banks.
Nominal Wage
The wage paid to workers measured in current money terms, without adjusting for inflation, reflecting the actual amount received.
Price Level
The overall average price of the complete range of goods and services available in the economy.
Real Wage
The wage of an individual or group after adjusting for inflation, representing the purchasing power of those wages.
Marginal Revenue Product
Marginal Revenue Product is the additional revenue generated from using one more unit of a factor of production.
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