Examlex
There is continuous salivary secretion due to constant low-level stimulation by the parasympathetic nerve endings within the salivary glands.
Budget Line
All combinations of goods for which the total amount of money spent is equal to income.
Rational Producers
Producers who aim to maximize their profits or benefits by making decisions based on logical analysis and available information.
Input Prices
The costs associated with the purchase of the raw materials, labor, and other inputs required in the production of goods or services.
Short- And Long-Run
Terms used in economics to differentiate between time periods: short-run where at least one input is fixed and long-run where all inputs are variable.
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