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A Technological Improvement That Causes an Increase in the Marginal

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A technological improvement that causes an increase in the marginal product of a resource will


Definitions:

Accounts Payable

Liabilities of a business representing money owed to creditors for purchases of goods and services made on credit, expected to be paid off within a year.

Cash Sales Policy

A company's practice of selling products or services for cash, rather than extending credit to customers.

Rate of Default

The probability that a borrower will be unable to make required payments on their debt obligation.

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