Examlex
In a three-phase business cycle,the recovery phase is always followed immediately by ______.
Substitute Capital
Assets or investments that can be used as alternatives to others, capable of fulfilling similar functions or bringing similar returns in a portfolio.
Price of Capital
The cost of using capital goods in production, which can include interest payments on loans or rent on equipment.
Marginal Product
The additional output gained by adding one more unit of a specific input, keeping all other inputs constant.
Economic Profit
The profit from an activity or business venture after subtracting both explicit and implicit costs, including opportunity costs.
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