Examlex
Why doesn't the sea get saltier over time?
Short Run
A period in economics during which at least one factor of production is fixed, limiting the ability to increase production in response to increased demand.
Profitable
A financial status where the income generated from business activities exceeds the expenses, taxes, and costs associated with maintaining the business.
Marginal Revenue
The additional revenue that a company earns from selling one more unit of a product or service.
Marginal Cost
The rise in expense associated with the production of an extra unit of a product or service.
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