Examlex
What service converts IP addresses into more recognizable alphanumeric names?
Competitive Price
The market price at which goods are sold in a perfectly competitive market, where no single buyer or seller can influence the price.
Fixed-Coefficient Technology
A production process where input ratios are constant and cannot be substituted for one another in the production process.
Demand Function
A mathematical relationship that describes how the quantity demanded of a good or service varies with changes in its price, and possibly other factors.
Horizontal Labor Supply Curve
A graphical representation suggesting that a worker's willingness to work does not change regardless of wage increases over a certain range.
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