Examlex
The basic rationale of artificial intelligence is to use mathematical calculation rather than symbolic reasoning.
Output
The amount of products or services produced by a company, industry, or economic system.
Total Fixed Cost
The sum of all costs that do not change with output level, including rent, salaries, and insurance.
Short Run
A period in economic analysis during which at least one input, such as plant size or capital, is fixed, limiting the ability to adjust to demand changes.
Long Run
A period in which all factors of production and costs are variable, allowing for full adjustment to changes in the economic environment.
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