Examlex
Which of the following is true of the short-run aggregate supply curve?
Marginal Revenue Product
The additional revenue generated by employing one more unit of input, such as labor, in the production process.
Resource
An input used in the production of goods or services, such as labor, land, capital, and technology.
Units
A standard quantity or measurement used to express the quantity of a product or dimension of a measure.
Purely Competitive Market
A market structure where no single buyer or seller has the power to influence prices, and products are perfectly substitutable.
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